this is bloomberg. ♪ lizzy: all comeback to "bloomberg daybreak europe."t's just gone 6:13 in london. let's go to south africa where the second half of last year saw the country's bonds the best performers among 18 other emerging markets, generating a total return of 14%. but coming to power of a ruling coalition, the first item 30 years between the anc and the democratic alliance, boosted investment in south africa's currency, equities and bonds. we get more with editor-in-chief m.r.i. does -- emeritus who joined us now from new york. good morning, matt. no one saw the ram strength in 2024 coming, but nor was the rewriting of south african political history a given. since the strong dollar knocked it, will it last in 2025? >> the real test is the federal reserve, as you know, has kept a very restrictive credit stance. as you mentioned earlier, just about every currency that is a major in the world. whether it is the yen or especially the euro has depreciated significantly against the dollar. particularly with the fed's credit policy. the fact that the ran

this is bloomberg. ♪ scarlet: this is bloomberg markets.e are looking at the s&p 500, down with eight out of 11 sectors in the red. let's bring in natalia. >> we are watching shares of ebay and meta. meta is down, but that is part of bigger risk off sentiment. ebay is the current best performing stock as humpton said ebay -- as meta said ebay will be able to publish listings and customers will complete purchases directly on ebay. it is a big move for the company. we see the stock reacting positively. next is a biotechnology company. it is a big move. the stock is up by more than 200%. the company posted positive results on its trial and treatment of type one diabetes. the study found no safety issues. analysts are excited about this news, but they are saying on the one hand, the timeframe between now and the moment when the tree it will be available for commercialization could take a long time, but at the same time it changes the risk profile of this company. finally, the worst performing stock in the s&p 500, down by almost 10%. the stock

this is bloomberg. sonali: this is bloomberg markets. i'm sonali basak time for the stock of the hour. sl x, the largest producer of medicine for pets and livestock in the u.s.. it stock has been lower going up to 2025. the company has a number of treatments waiting approval. -- awaiting approvals. my cali katie greifeld and kristin pe at the j.p. morganck health care conference in san francisco. katie: let's start with the broad breakdown. are you addressed companion animals. i am thinking cats, dogs, livestock like cattle. what is the current breakdown when it comes to your revenue and how do you see it evolving over the next couple years? kristin: it's great to be on. what is important to know about animal health is it has been growing for percent-6% over time with a compound annual growth rate of 5%. companion animal generally grows about 6%-8% and livestock slower to percent-4%. about 6% of our portfolio is in companion animal, the faster growing. what really differentiates zoetis's we are driving market growth with innovation and c

and bloomberg's executive editor is the chair of bloomberg's of directors. and traders are grappling with the prospect of rising trade tensions and that was one of the factors that led to the downfall arguably of trudeau after donald trump denied a washington post report that he's considering a more targeted approach to tariffs. he denied that. let's dive deeper into the action with valerie tytel. a reminder of the whipsaw effect of speculation around from's policies. >> what a whipsaw we had especially in the fx market around these headlines. the original reaction to that washington post article saw the dollar really erase a lot of its gains and against that the euro a big leg stronger versus the dollar on those original headlines, moved over a percent which i think showed there were a lot of euro shorts they got squeezed. we had reports of traders talking about the surgeon option volumes. a lot of them seem to be getting stopped out over these headlines yesterday but it was not just the tariff headlines we had to deal with but also some headlines about res

stay with us, this is bloomberg -- this is bloomberg. ?likely to get a couple of cuts, no hurry, it will take until the june meeting to be delivered. tom: fed expectations through this year, analysis based on inflation dater and producer prices holding, estimated increase, the headline rate will be lifted in financial services, bloomberg says the dater today will not assuage the fed, and not likely to come through from the dater. let's flip the board and have a look at what higher rates means for the earnings story because the view on tech if you strip out names they are making money, including amason and tesla. worth looking at. coming up, opening trade is actually first -- first, but we will hear from the ceo on the polls, be fooled that the it is the opening trade, this is bloomberg. ? let's go boys. the way that i approach work, post fatherhood, has really been trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families, lik

and michael bloomberg, parent company of bloomberg news. mentioned we have to factor into the oil price, chinese economic recovery. we got the pmi numbers from caixin earlier this morning, the weakness factoring into chinese stocks as well. the csi 300 down 0.3%. indeed, this supplements the data, the official numbers we got earlier in the week. we saw some strength for services. we are in, on the growth side of 50 but it is weaker than expected on manufacturing. factor in the tariff story, the uncertainty around that and also the question of what stimulus we can expect from beijing in 2025. the president-elect coming up, his progress -- his return to the white house is dominating wall street predictions. from u.s. assets to bond vigilantes, we will discuss with the finance world is expecting in 2025. do stay with us. this is bloomberg. ♪ >> looking at 2025 being the year of the great pipit. -- the great pipit. china is likely to outperform the u.s. and uncertainties abound. >> it is very important for china to track the policy space more a

this is bloomberg.uments on the future of tiktok in the u.s., let's take a look at the app's impact on the economy. >> creators from all around the world come to tiktok to be discovered. to find an audience, live their dreams of fame and fortune. in addition to launching countless global stars, the discovery and authenticity that defined the tiktok experience have also made the platform a home for serious issues that are vital to the global good. caroline: let's bring in the ltk co-founder, amber venz box, who knows a thing or two about content creators worldwide. amber: i have to start out by acknowledging what is happening with the wildfires in l.a. our thoughts and prayers are with the huge part of the community affected today. we have 10,000 creators operating out of l.a. county. i would be remiss not to acknowledge they have had a struggle at the start of the year, both how they will operate out of their homes, the products they will show to their audience and thinking about re-homing their communi

this is bloomberg. ♪ tom: good morning, this is bloomberg daybreak: europe.om mackenzie in london, these are the stories at set your agenda. asian stocks follow a china wraps up support by iran. they are betting the fed will not cut rates before the second half of this year. we get minutes from the central bank later today. samsung gaining after nvidia's ceo expresses confidence that the company can resolve its tech problems despite a profit minutes. and president elect donald trump lets loose on foreign affairs threatening to absorb canada, sees the panama canal, and take control of green liquid. let's check in on the markets. the nasdaq 100 fell around 1.8 percent. the s&p fell around one point 1%. the future suggest there could be relieved coming through for u.s. stocks today after the selloff of yesterday. it's falling by .3%. ftse 100 is currently stable and unchanged. s&p futures pointing higher up .2% after yesterday selling similar picture for the nasdaq 100. this was down to stronger jobs data. a drop of a little over 6% for nvidia. so, big drop in t

this is bloomberg. ♪ mike: elon musk is being sued by the u.s. a securities and exchange commission. the sec claiming that the tech billionaire cheated twitter shareholders out of 150 million dollars by waiting too long to disclose his growing stake in twitter as he prepared a takeover bid. for more, we are joined by nicola white, here in washington. thank you for all of your reporting on this. this case has been building for a while. yet, it didn't end to the usual way a lot of these do, with a settlement announcement. nicola: that is pretty on brand for elon musk. mike: yes. nicola: normally these kinds of cases are usually settled because they are, even though this has generated tons of headlines, it's a straightforward case, filing this forum or not and it is you it on time? he did not, according to the sec. not only that, he apparently did the wrong form. the sec said in the process that he made $150 million and you know, that didn't go over well for the rest of twitter shareholders. caroline: $150

this is "bloomberg technology." ♪ caroline: this is "bloomberg technology."ng at a live shot of the principal room. tomorrow, bloomberg is heading to las vegas. you do not want to miss it. this is bloomberg. ♪ caroline: microsoft is making a major ai investment announcing it will spend $80 billion on data centers over the next year. the company wrote previously that not since the invention of electricity has the united states had the opportunity it has today to harness new technology to invigorate the nation's economy. microsoft is also investing in ai through the venture capital fund calling it the defining technology of our times. i'm pleased to welcome michael stewart who has been at the ai, hardware, software investment for a long time. i want to dig into the idea of data centers and the commitment of money towards it. where are innovations happening within data centers? michael: the demand we are going to seaford ai -- see for ai as applications roll out this year and next year will accelerate. it is key not just to have ai available but also that is aff

tune in today and noon eastern only on bloomberg. >> welcome to bloomberg markets.ock market make a turnaround here, giving up their early losses and inching higher here. he sees inflation cooling and that supports his view for more rate cuts this year. the russell continues to underperform with small caps lagging behind.

this is bloomberg. ♪ ♪ >> good morning. this is bloomberg daybreak. i'm tom mckenzie.re the stories that set your agenda -- markets from both sides of the pond. uscpi expected to remain firm while the u.k. one is the first incumbent to be taken into custody in the nation's history. the s.e.c. is parting short of elon musk as the regulator shoe it is richest man over and i ledged failure to reveal his twitter stake before his take over. european futures pointing to .2 of a percent. there is some expectation there will be a bet of a holding pattern. then of course, u.s. inflation later in the day futis .22%. -- futsi, .22%. we focus on the treasury. there may be some movement around treasuries and how much volatility there will be around the inflation data as investors adjust or readjust their views on the federal reserve and rate cuts. 4.77. the pound softer again in the session. down at 1.22. brent trading higher by .0% and gold is gaining just shy of .2%. yoon suk yeol has been arrested after a raid in his residence. he's agreed to be questioned over his short-lived m

this is bloomberg.e: as california's dead deadly fires look to reignite, some social media users are pushing political agendas as well as conspiracy theories. for more we have the latest on political agendas being one thing, disinformation another. how does this compare at the moment to prior such events? >> one of the things we are seeing is this really becoming a normal part of these disasters. if you remember back in 2023, there was suspected chinese operatives that were spreading conspiracy theories around the wildfires that struck in maui, as social media has become the way that people consume news, instantaneously a lot of conspiracies unfounded, bizarre conspiracy theories, gain a lot of attention very quickly. mike: jeff, you and i have worked on a number of disinformation stories over the past year, including natural disasters but in other areas too including online extremism. but one thing that we have noted in our work is that it doesn't stay online. what are some of the real world impacts of

this is bloomberg. ♪ scarlet: this is "bloomberg markets."trudeau saying he will be stepping down as party leader, insuring an election in the coming weeks. he made the announcement in auto up. >> i intend to resign as party leader and prime minister after the party selects its next leader through a robust nationwide competitive process. last night i asked the president of the liberal party to begin that process. this country deserves a real choice in the next election and it has become clear to me that if i have to fight internal battles, i cannot be the best option in the election. scarlet: for more on this, let's bring in brian out of ottawa. feels like trudeau may have made the same mistake as joe biden, hanging on for too long. now that he made the announcement, how quickly do things need to unfold for the liberal party to have a new leader? >> there is a ticking clock in place. the parliamentary session has been suspended until the end of march, but it has to come back, there need to be votes to fund the government like basic money bill

this is bloomberg. ♪ sonali: i'm sonali basak and this is bloomberg "real yield."t is time for the auction block. we start in europe, with the eu lead market-white volume for 2024 reached a record-setting 1.27 billion euros. -- trillion euros. here in the u.s. borrowers wasted no time with raising money in 2025. high-grade sales on thursday were 15 billion dollars, led by credit agricole, ford, and gm. kicks off what analysts say could be a record-setting january. an informal survey called for $200 billion worth of sales, and that could surpass the record we saw just last january. speaking of credit, join beyonca ocs major opportunities this year. -- joanne beyonca sees major opportunities this year. >> the number one area is credit. we are in a better quality environment. to get lily in the u.s. high-yield market. there is more double-b's than there ever have been. the triple-be market is higher than it has ever been. sonali: we are going to get deep into the credit markets now. we are joined by a keeley gray wall and sinjin bowron -- a keeley gray wall and sinjin

this is bloomberg. ♪ tim: this is "bloomberg technology." looking at a live shot of the principal room. check out the technology podcast. you can find it on, spotify, and iheart radio. this is bloomberg. katie: well, the race to ai enhanced human productivity is on. the coming year will feature ai companies grappling with pushing out software that can do more with less help from humans in figuring out how to train the most powerful models. rachel has more on the most -- on the ai predictions for 2000 25. happy new year. what can we expect from the world of ai in the coming year? rachel: a couple of things. a lot of focus on so-called agents, systems that use ai to accomplish tasks with little or no help from humans. ai software that can go out and do something like say help you plan a trip or help you to process certain kinds of information more efficiently in a more complicated way than just looking over documents. a lot of people are talking about that. one of the other things we are going to be seeing or hearing people talk more about is

>> welcome to bloomberg markets. we have stocks and bonds falling so let's show you how things stand. the real action is the bond market. the 10 year yield is moving up. that is an eight-month high. this comes in for a 39 billion dollars sale of 10-years later today. the catalyst for today is dated from ism services that shows the services economy is growing faster than expected, reducing the odds of a cut before july. stocks under pressure. s&p 500 declining, losing .3% -- .75%. big tech is leading the way with nvidia and focus, losing 5.4% on the day, retreating from a record high. jensen whan -- these are long-term investments. investors looking past that and what the look for catalysts to boost the stock. specific individual movers on the equities side. stryker agreeing to purchase an aari medical -- inari medical. the deal aimed at using blood clot devices. paychex is higher after agreeing to buy paycorp. four $1 billion in cash. the transaction will enable paychex to enhanced capabilities for ai technology with

this is bloomberg. ♪ vonnie: this is bloomberg markets.itigroup reported fourth-quarter results before the open. shares are more than 7% after the bank reported a beat on earnings and plans for a $20 billion buyback. for more let's bring in todd gillespie with bloomberg news who calibers -- it covers all things citigroup. quite the turnaround. jane fraser deciding capital plants are something she wants to implement. >> absolutely and this is something shareholders have been begging for. citigroup only gives clarity quarter to quarter. to have a $20 billion figure -- it is still not perfect. it is a multiyear plan and starting off with $1.5 billion this quarter. that will be underway. generally speaking for the bank. it is a sweetener right now as jane frazier slightly rolls back her medium-term return on tangible target -- vonnie: she was really ambitious with this turnaround but she seems to be convincing markets and obviously it was a record haul for all of the banks. did citi perform? his morale good? todd: for sure. the underlying numb

this is bloomberg. ♪ vonnie: this is "bloomberg markets."oll report increased by more than expected, particularly one sector is standing out, 43,000 jobs added in leisure and hospitality and in the accommodative food services. for more on that sector, we are talking with eugene, cofounder and partner at catch hospitality, a portfolio of restaurants including locations in new york, los angeles, and soon scottsdale. we will talk about the new open, but first, the labor market dynamic out there. seems like in december a lot of more people were hired in leisure and hospitality. >> it's a great headline but i think the bigger conversation is on efficiency and all the restaurants that will have to work with a better efficiency model, doing more with less in all aspects. whether that is the food, the service, the labor, everything. you have got to focus a lot on technology. ai changes a lot of the dynamics. technology is a supplement, it doesn't replace the team, and if you don't have a great team, you won't have great guests and he won't make the

caroline: this is bloomberg. caroline: this is bloomberg. safari? hot air balloon ride?can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. let's go boys. the answer is the way that i approach work, post fatherhood, has really been trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families, like my own. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. ♪ ♪ sonali: live from bloomberg headquarters in new york i'm sonali basak. tim: i'm tim stenovec. welcome to bloomberg crypto. sonali: bitcoin stumbling to start that year. kriti gupta joins us. tim: the crypto industry is eager

♪ >> welcome to bloomberg markets and happy new year.oming up on the program, stocks looking to rebound after closing out the year with or straight days of declines. excuse me, the u.s. is on high alert following a pair of holiday attacks. the latest from the white house on what is being done to keep people safe. and here is tesla under pressure as annual ev sales fall for the first time in more than a decade. but first let's show you what is going on in the financial markets. stocks and bonds that open with modest gains that we have since seen the gains in the bond market fade. s&p 500 of one third of 1%. the 10 year yield now inching higher by two basis points but still very much in that 4.5% range. the dollar was a story of strength in 2024 that continues to be at the start of 2025. you can see the dollar stronger and of course there is continued political uncertainty in canada, whether prime minister justin trudeau given to internal pressure in his party and step down. and a quick glance at emerging markets, that is on the verge of a

this is bloomberg. let's go boys.ch work, post fatherhood, has really been trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families, like my own. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. ♪ ♪ - it's something about having that piece of paper. some people think that's worth more than my skills. - i've run this place for 20 years, but i still need to prove that i'm more than what you see on paper. - you gotta be so good they can't ignore you. - it's the way my mind works. i have a very mechanical brain. - analytics and empathy. that's how i gain clients. - i am more... - i'm more... ...than who i am on paper. >> this is bloomberg daybreak: europe. these are the stories that site your agenda. edge and stocks headed for a fuller -- a fourth session. oil climbing to the highest in more than a month so a new u.s. sanctions against russia and china's annual trad

this is bloomberg.ie: 2024 was deemed the year of artificial intelligence, but many are waiting to see if wall street will grow impatient with the ai movement. we are joined now. tie this into what you call the brain rot economy. all this enthusiasm we are seeing over ai and what is actually happening. >> piercing investors excited that ai is going to come good this year and revenues are going to start bringing. capital expenditure will go through the roof. where that links with the brain rot side of things is that one of the early uses of ai has been to fill things like facebook with nonsense, really. pictures that don't make sense. or text that is not really fun to read, i think. i think there is going to be an awakening from people saying, why am i looking at this? that will spell trouble for companies like meta. katie: your prediction -- tim: your production about tiktok -- will it be banned? >> the supreme court will hear arguments on january 10, and many legal observers say it is unlikely the supr

thank you for choosing bloomberg tv.d new thinking. ( ♪♪ ) partnering to unlock new ideas, to create new legacies, to transform a company, industry, economy, generation. because grit and vision working in lockstep puts you on the path to your full potential. old school grit. new world ideas. morgan stanley. matt: a little bit of a rebound after we finished and agreed. 30 minutes until the start of the cash trade. sonali: bloomberg open interest starts right now. matt: coming up, another report that trump's economic team is considering a gradual approach to the tariff hikes in the dollar tips on that. the latest word on tariffs, as they digest the ppi data and race for big swings tied into the cpi report. also as we kick off the earnings season. plus a shakeup at j.p. morgan. the bank names a new chief operating officer, replacing daniel pinto who retires at the end of 2

this is bloomberg. ♪ tom: welcome back to bloomberg "daybreak: europe." u.k.ket tumble yesterday, pushing levels to the highest since 1998. the treasury has signaled if higher worm costs wipe out the fiscal headroom, she will choose cuts overspending tax hikes. let's bring in lizzy burden, this is a challenge to state police least for racial reis. having flashbacks to liz truss and to the budget. we saw the pressure on the pound, those dynamics suggesting the fed is turning sour on u.k. assets. what is rachel reeves to do? >> let me give you the big picture, the labour party really contrasted themselves with the conservatives by saying remember the specter of liz truss? rachel reed has put herself in a straitjacket, she said there will be no more tax rises, no austerity, one physical event in gear and she will stick to her fiscal rules of only borrowing to invest. she has really box herself in here. this is high risk because at the october budget she left herself a big margin for error, really relying with a hope and a prayer that the economy was going to grow

that's your bloomberg brief. jonathan: up next on the program, bracing for tariffs. >> in terms of economic policy, writ large, there are more questions than answers at this point. while transaction man is going to be there, tariff man will be very much present. we are preparing for increased tariffs. that conversation coming up next. -- jonathan: that conversation coming up next. live from new york city this morning, good morning. ♪ (♪♪) (♪♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses you know what's brilliant? and more in prospectus at invesco.com investment objectives, risks, charges, expenses boring. think about it. boring makes vacations happen, early retirements possible, and startups start up. that's why pnc bank strives to be boring with

that is your bloomberg brief.e program, donald trump's expensive agenda. >> i don't think the market fully has embraced how much deficit spending i think we are about to do. jonathan: that conversation up next. good morning. jonathan: equity futures right now on the s&p 500 up by 0.7%. euro-dollar back at 1.0416. not much needs to go right in europe. given the selloff we have seen. the president-elect donald trump exploring tariff plans that would apply to every country but only cover critical imports. i have more questions then answers right now. lisa: you say this has to do with not much has to go right for the euro zone. this is broad-based showing volatility. the expectations baked in about tariffs and what we have to see to ignite a lot of volatility. jonathan: just waiting for that headline, the post from the incoming president when he gets to read this, this morning. lisa: he will say critical infrastructure is everything under the sun. good morning. annmarie: we get the hearings from jamieson greer where t

things are proposals. >> this is bloomberg subvariant -- bloomberg surveillance.els like things are getting breathless. we have not even have inauguration yet and we have the payrolls report on january 10. we still need to figure out the direction for policy and how big this one big beautiful bill will be and whether it will be one beautiful bill or two. lisa: you said it feels breathless but let us see if anyone can catch their breath. the whipsaw of headlines coming up, paired back tariffs no it is not, what are you talking about. the moves in the market highlight how offside into certain crowded trades art with long u.s. exceptionalism. and what it takes to disrupt that. annmarie: this is not an administration like watching paint dry. he will want to maneuver and he wants optionality meaning that there will be a lot of whip sawing. to your point about the optionality of one or two bills, potentially by friday we will have two because he is going to washington, d.c. and meet with senate republicans. they won a two path approach, very different than the congressm

this is bloomberg. ♪ >> welcome back.lackrock says it is leaving one of the biggest climate investor groups after being targeted by republican politicians. the money manager says membership at the initiative caused confusion regarding practices and it was among asset managers facing a lawsuit breaching -- alleging breaching antitrust laws. this year marks the halfway point in a crucial decade for climate action as the window to limit global warming to 1.5 degrees celsius closes. is the world ready to say goodbye to coal? the move by blackrock suggest not yet. joining me now is an associate in bloomberg's markets team. could 2025 be the year that the sun finally sets on coal? we had a reminder that blackrock and many asset managers are reluctant to walk away entirely. >> yes. we are expecting coal demand to have marginally increased and 2024 and we think that in 2025 and over the next for years coal demand will largely stagnate. the peak demand for coal looks to be almost here but a rapid decline from that point is unlikel

this is bloomberg. ♪ let's go boys.ork, post fatherhood, has really been trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families, like my own. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. ♪ ♪ >> good morning. these are the stories that set your agenda. asian currencies had a two decade low versus the dollar with japanese stocks falling and china reaffirming support after a sudden drop in the currency last week. canada's prime minister is reported to be planning to resign as early as today following pressure within his party. the loonie rises on the report. and herbert ginkgo is on track to become austria's next chancellor. let's check in on these markets on a day and week of big data releases across the euro zone and nonfarm payrolls out of the u.s. and listening for fed speak throughout monday and tuesday to give us a sense as to how much caution is within t

caroline: live from new york, this is "bloomberg technology." nvidia takes center stage at ces with new hardware, software, and services. we sit down with jen-hsun huang later this hour. medic cuts its team of fact checkers. in the u.s. places some of giants -- china's biggest tech giants on its own into a blacklist. the key stock you have to watch today, it is the most valuable and it dives by 4.5 percent. nvidia losing its premarket gains. we had touched a record high and then we see the boys day since september. why? we got a whole raft of services -- of products, from pcs and gaming, but is it the here and now? the black l program that we don't get enough detail on? let's head out to las vegas. a big story is nvidia and the ceo unveiling these products. we have none other than a key focus on the gamer, the original customer from jen-hsun huang. have a listen. jen-hsun: we used a geforce to enable artificial intelligence, and now artificial intelligence is utilizing geforce. everyone, today we are announcing our next generation. the rtx black

thank you for choosing bloomberg tv, this was bloomberg "surveillance." >> seems like traders just waitings until the start of trading. i'm matt miller. >> i'm katie grie fellowed. bloomberg "open interest" starts right now. >> coming up, anything but a quantum leap. quantum computing stocks tumble after the c.e.o. predicts useful machines are still decades away. matt: albertson's raising the earnings outlook for the year. a positive sign for the grocery chain after its proposed deal with kroeger fell

welcome to "bloomberg markets."todayth mo, resetting expectations for rate cuts this year, putting more of a pause on it. let's get a quick check on the markets with equity markets selling off and on the news. good for the economy that so many jobs were created but fishing out those rate cut expectations down one point 6%, the nasdaq 100 down one

with your bloomberg brief, here's dani burger. hey, dani. dani: we begin in los angeles, which is experiencing its worst natural disaster in decade. at least five people were killed and more than 100,000 residents were forced to flee their homes. there is a major evacuation warning for major landmarks, including the chinese theater as well as hollywood boulevard. the biden administration is plenty more chinese export restrictions. it would create three tiers of chip curves, as allies will have unmitigated access to chips. adversaries will be basically blocked from importing. the majority will face limits. the regulations could be issued as soon as friday. they national day of mourning in the united states for the late president jimmy carter, who died on december 29 at 100 years of age or. a state funeral for carter starts at 10:00 a.m. eastern at the washington national cathedral. president biden is expected to deliver a eulogy. carter was a former georgia peanut farmer who served one term as president and he was most noted for hi

bloomberg surveillance starts right now. coming into 2025 following the best back yearly gains since the late 1990's. equity futures bouncing back from four days of losses. the s&p we are higher .6%. on the nasdaq we are up .8%. your forecast shaping up as follows. the average, about 6600. the highest is 7100. the low is 6000. lisa: this is not exactly a terrible year of losses after the biggest gains in the s&p 500 going back to the late 1990's. the real question is where the leadership will come from. we have seen a narrowing in breath. this past year was supposed to be the year big tech lost its dominance to the rest of the equal weight. that has not happened. can big tech continue to power the rally we have seen? jonathan: postelection we all had the calls. we were going to see increased participation. we would see small caps pick up the mantle. that in december they had a terrible month. as for january, january 10 we get payrolls. that is next friday. the week after that you get cpi on january 15 and then he inauguratio

. >> this is "bloomberg surveillance." jonathan: live from new york city, good morning, good morning. coming into friday facing down a week of losses. on the nasdaq, down by .2. the first big data point of 2025, payrolls report just around the corner. below, 100. high, to 68. lisa: it is unclear how to read this data. what is the threshold for the fed to cut rates again? right now people are saying that threshold is incredibly high at a time we still see robust job growth. at the same time it is slowing. the bigger question to me is what was that threshold for this bond market to rally big time and for people to retrace some of their inflationary concerns over the past month? jonathan: part two is next week. cpi is around the corner. we since the discomfort with the inflation story over the past week or so. discomfort with the inflation story. lisa: basically saying, kansas city fed president saying the rates already might be very close to neutral. really reassessing just how much they are done with the recalibration and g

. >> this is "bloomberg surveillance." jonathan: good morning, good morning for our audience worldwide. coming into friday on a five day slide on the s&p 500 come the longest losing streak going back to april of last year. equity futures attempt to bounce back. the headlines of the last 24 hours in foreign exchange, check out these two currency pairs. euro-dollar breaking down to 1.02 for the first time since 2022. china dollar. lisa: what is the future both of them? a strong dollar. that continues to be the story of this year as people start to wonder how much there are over apprising rate cuts in -- pricing rate cuts. jonathan: how much of this will china tolerate or how much will china embrace? i will pull up the quote from a few weeks ago. china's top leaders and policymakers considering allowing you want to we can 2025 as they brace for how u.s. trade tariffs as donald returns to the white house. annmarie: there a theory that a weaker currency is the best thing for increasing exports. overcapacity issue, overproducing

so all of those things set the stage for what the bloomberg administra ation tried to do in 2007 2008. that was also necessary. a mayor who was committed to this idea but also sufficient in new york politics. governor, is the key the key center of power in new york state. if the governor is not only not opposed to congestion pricing, but not willing to put his or her political capital behind congestion pricing, it still doesn't happen. that's what we see today. governor hochul inherited, this congestion pricing law from the previous governor, it was never her project and overall she's been weak governor on many, many. we will see if turns around her pause on. congestion pricing. if so, this will be something that again was was half a century in the making and what's prediction if if it does come to pass this will be groundbreaking it be by the standards of the united states fairly revolutionary. are you hopeful? do you support it? what what is your. but yes by the standards of the united states, it's groundbreaking. by the standards of the rest of the world. you know, we're we're 21 y

thank you for choosing bloomberg tv. this was "bloomberg surveillance ." ♪ let's go boys.tand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families, like my own. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. ♪ ♪ matt: another down day. 30 minutes until the start of the cash trade here in the u.s.. sonali: katie greifeld is on assignment today. "bloomberg open interest" starts right now. matt: l.a. fires still arranging as santa ana winds are poised to intensify the wildfire battle. we will take it to the front lines. stock traders have been hit by diminishing bets on fed rate cuts as apple's iphone sales fall 5% in the holiday quarter. plus, it is murder monday. j&j agrees to buy intracellular therapies for over 14 billion dollars. katie greifeld is in the midst of all of that action at the j.p. morgan health care conference in san

president, joe biden, and bloomberg founder michael bloomberg. and that's where we'll start.el: the fact is that none of the big challenges that we

this is bloomberg. so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. ♪ >> i wanted to check in on these market as we close out the hour because yes, we are still lower on the s&p 500 and the nasdaq 100 but we are off of session highs. down 3/10, 4/10 of 1%. the nasdaq 100 about a 10th of 1% lower. the 10 year yield has been just below 4.8% all day long, but elevated out 4.77, so not far off. that does it for bloomberg markets today. this is berg. ♪ let's go boys. the way that i approach work, post fatherhood, has really been trying to understand

i did not even know that this was something that mayor bloomberg. one of the actual wonderful things in the book is you can learn how many things keep coming around and about before they occur. congestion pricing being one of the best examples. we may be on the verge of getting it and acted in what are your thoughts about that >> congestion pricing, this is an idea that actually does date back to the early 1970s come even earlier than that, the first proposals to charge people to cross the east river bridges where they would have accomplished the same goal as congestion pricing. nobody could drive a motor vehicle into manhattan for free. .. r what has not happened first of all you need a persistent consistent activism community that just won't take no for an answer. i know sam and charles are both here and so so have been working on this consistently for the entirety of this 50 years but that is necessary it is not that is necessary but it is not sufficient. what else was necessary to finally make pricing and incredible political idea, if one that w

bloomberg was down 15 points, i think at the time bloomberg won. and then, you know, it was over. >> rudy dealt with it directly. i remember seeing him pack up his office, and there was a sense of some sadness. but, you know, i think there was a sense of exhaustion, certainly. but he was looking forward to what was next. >> his last walk out of city hall as mayor of new york. >> those days, around 9/11, were the apex of his career, and probably his life. you have throngs of people cheering for you and waiting in line to shake your hand and get your autograph and get pictures with you. you multiply that times a thousand with respect to nine over 11. i think that never leaves you. anytime a politician gets that kind of adulation, it's got to do something to their brain. it's just got to. >> arlette saenz. >> mayor giuliani swears in his successor, mike bloomberg, in the city of new york. >> the best of my ability, the best of my ability. help me god. so help me god. >> he's at the top of the world. >> he's back on top, and he's going to do extraordin

along with his work at bloomberg 21022013 running as chief of staffof as executive director of the nationaln committee. masters history from the university. please welcome nicole and harris. [applause] >> it is a pleasure to be speaking with so many knowledge and engage people. this is a terrific book and i loved it. i hope you all have read it or will read it. it's one of the best about new york and one of the best things we can talk about this how many areas of city life we touched talk about.book and criminal justice issues and housing issues. so we will talk about that. curious why you chose to write this at thiss time. >> why transportation policy because it is the one government thing that we do every day that touches ons all of our lives and their other issues you talked about. many of you are aware, this is the 50th anniversary but we tend to focus on that era and longer since it was in that year end that it covers so about when the automobile was in york city and other cities. it has been longer since then so i got around to thinking something must have happened in these past 50 ye

okay, max, it is bloomberg reporting. explain this.espite a denial from bytedance, nothing from musk. could he actually buy tiktok? >> well, we should say these are this is chinese officials. this is not bytedance necessarily doing the talking. you could kind of understand why they might be talking about this. this ban is coming down the pipe unless the supreme court intervenes, which it doesn't appear they will. and tiktok is a strategic asset to the chinese government. so if they're trying to preserve this, you know, a little bit of potential influence anyway that they have in the united states, you know, who better than elon musk? and when you start thinking about who the other potential acquirers here, who would be acceptable to the chinese government and acceptable to the trump administration, it's sort of hard to think of a lot of other candidates. elon musk, you know, for better or worse. and he gets criticized a lot by both democrats and republicans, has a very, very good relationship with the chinese government. and so you can

bloomberg reports this morning that bytedance has at least talked about the idea of selling it tiktokut bloomberg says chinese executives would rather let the ban take effect than cave to american rules. or they may be counting on donald trump to save tiktok. trump can't reverse the ban single handedly. it's part of a law passed by congress, but he could put pressure on the republican held house and senate to reverse their ban. trump originally supported the tiktok ban but changed his mind, telling our colleagues at cnbc back in march, quote, when i look at the ban, i'm not looking to make facebook double the size. and if you ban tiktok, facebook and others. but mostly facebook will be a big beneficiary. trump's been really straightforward of his dislike of facebook ceo mark zuckerberg for shutting down his account after the attack on the u.s. capitol. zuckerberg, meantime, has dramatically shifted his company to the right just in the last week, ridding the company of diversity programs and changing facebook's fact checking system. meta now says zuckerberg's been invited to the trump

but the thing is i'm reading particularly like from bloomberg, a quote. ukraine seeks a sustainable piece. well, it's what she expects the same stressing that temporary resolutions would not serve us. so ukrainian interest. this is a theme that we keep going over and over and over to russia has interest to rush is involved in this here. but we constantly see plans being made really with the explosion of russia. it's, that's not going to work. go ahead and salt lake city. a good you're actually right here. um, when uh, you know, it's difficult when a power is, is in our country's when he, in a war, there are other wants to get this the term. so in this case, russia has been even more over the last uh, 2 or 3 years. i think this uh no longer debatable. and you know, as a result, you prayed in the us, i have to accept a piece piece agreement terms that are minimally acceptable to the russian federation. and so that, that's really the key that's been missing all this talk about nato membership being pushed back. that's completely unacceptable to russia. the idea of the week that we would send

amazon scott also in the same kind of media particularly got bloomberg seems to have a corner on the market right now. there was mention of but of course the carrots and sticks will be needed. i think we've had enough sticks with this. that's why we need to resolve this complex. again, you know this, this is a, it's like a self licking ice cream cone. you, this is, it's all hermetically, close there. and plus, there's no communication with the russian federation at all. i mean, how can use but even think about negotiations. let's go back to the premises. the you discussed with your other guess of united states data or not looking for a piece. the current policy of the united states is to see the strategic defeat of russia using the ukranian proxy conflict is the principal tool of the stabilisation . that is the official policy as united states and nato. so everything that's being done right now is not designed to be in opposition to the policy, but to recognize the difficulties of the current situation and try to mitigate that gets to feed by creating contain. but what we're looking