this is "bloomberg surveillance" on bloomberg radio. tom: good morning. lisa in moments with the bloomberg business update. good morning around the world, important guests in this hour. i was going to do forget about it, iconic name in american retailing, nordstrom's, will finally go private. we welcome you on youtube. on your commute at home, bloomberg radio, good morning, and when you get to the office, youtube, work from home, cook from home, you watch us on youtube at home. paul: we will bring you all the market action. s&p futures off but the nasdaq is up. michael: dollar strength -- tom cole and dollar strength. euro-dollar. the real headline, market up 2.25% on the 10 year yield. where is the market right now? juul almost 7% -- paul: almost 7%. i cannot get out of my 3% mortgage and go get a new mortgage at 7%. tom: good morning to all of you. we do the bloomberg business flash from the interactive brokers studio. we thank them for that. lisa mateo, good morning. lisa: nasdaq futures little changed up about 12 points. dow futures down 210 points. s&

always helping out on bloomberg radio and bloomberg television worldwide. what do you want? i've got enough bowties. just subscribe to bloomberg podcasts. that's the best thing you can do. the bowties that just go up up and away? they used to be like -- you know, two martinis. now it's more. paul: worth the investment, though. tom: we are going to spend some time here on the politics of the moment. doing so with a professor at the yale school of management in his book, picking presidents, alluding to the follow-up, kidding, ingest, picking billionaires. now on musk into 2025. professor, thank you so much for joining. one of your side notes, the tension within the trump administration, elbridge colby and the business types that need to do business in shanghai, musk, the tension is tangible. is that what we need to look forward to, a raging chinese debate at 1600 pennsylvania ave? gautam: it's hard to see how that won't happen. a big chunk of the trump administration has defined themselves around hostility towards china. hopefully, not armed. some of the majo

sonali: welcome back to our bloomberg radio nt the audiences. ak -- this is "bloomberg markets," and i am sonali basak. even if the holiday season comes to an end retailers are still competing for consumers. earlier this week we spoke to the ceo of a company that is helping retail brands target consumers using ai. michelle: our ai trains on what the brand's editorial point of view is so we can understand how the brand was to elevate your sense of style and we can do that it scale. showing every product, how to where it in all the different trends and things happening on tiktok. vonnie: some of your brands include gap, old navy, pac sun. you have a lot of retailers. are you saying you take their vision and have it style it self, or are you adding things to it? putting together customers' personal information with the brand style? michelle: it is a mix of all of the above and that is the holy grail. personalization was a big topic. what ends up happening is if you just follow the pattern of what the customer buys, they never get better and they do

a special edition of bloomberg markets on bloomberg tv and radio.ck of the futures, boom, negative futures here and a little bit of a wait and see on this market. a low-volume day in the week between christmas and new year's, so a softer opening as we see from the futures market, caroline. caroline: 9 million reasons and the largest volunteer food pantry in long island city, so were the cause during these volumes, yields creeping ever so high, a seven-month high on the 10 year yield and oil trading up a little bit, but we would like to dig into individual movers and a wonder why we are going to the publishers illustrator next because it has a tiny market capitalization of $67 million and alex semenova has a reason why we are digging into the company. alex: i tiny market cap but a big move on a quiet trading day. the media company owns a variety of brands, and it was notified that it's regain compliance with listing standards had been approved, up about 17% right now, and shares were up 20% in premarket trading. there was news yesterday that the fitn

we are bloomberg markets" live on television, radio, youtube and bloomberg originals.ar along with vonnie quinn. we are down across the board but off the worst levels. nasdaq 100 and s&p 500 showing declines. vonnie: the rally definitely fizzled. the s&p 500 is only down 1.6%. carol: perspective/not a terrible month when you think about it, the indexes of at 25% year-to-date? carol: same thing, nasdaq 100. two good years from both of them, we have seen similar performance. coming up, we will talk about the commodity complex. it is complex, if you will, some parts of their community universe are performing, some others not so much. vonnie: yes, look at natural gas today. who would've thought, the front month contract was up 20% at one point. we will speak with michael mcglone to talk about what is going on. carol: and is it a commodity, is that a currency? what the heck is it? bitcoin has had a bullish year. we will get thoughts on what comes next. vonnie: the index still about 108 on the dollar index. we'll go an outlook for global currencies. what happens to the other

. >> in michael mckee from bloomberg radio and television. even though you've cut rates by 100 basis points this year, we haven't seen much change in mortgages, auto loan rates, or credit card rates. you say you're significantly restrictive. are you running a risk that the markets are fighting against you and the economy could be more at a risk of a slowdown than you anticipate? so the the risks that you, sorry, the rates that you talked about are really longer run rates, and they're affected. they are affected to some extent by fed policy, but they're also affected by many other things, and longer rates have actually gone up quite a bit since september, as you well know, and those are the things that drive, for example, mortgage rates more than short term rates do, so. we look at that, but we look at all financial conditions and then we look at what's happening in the economy. so what we see happening in the economy again is, you know, most forecasters have been calling for a slowdown in growth for a your very long time and it keeps not happ

this is bloomberg. >> welcome back to bloomberg television and radio. t special edition of bloomberg open interest and bloomberg intelligence. we have joined paul and his interactive brokers studio. i prefer the set up your tv studios are awesome. sonali: this set up with our music. paul: i know a guy. i will make a phone call. matt: i get to wear jeans is all i know. we are looking at a market that is tanking today. the s&p 500 is not doing as badly as it had been, but it is down 1.3%. down 540 points even without those stocks weighing on it. in terms of the nasdaq 100, that tech heavy index is down one half percent right now, so down across the board. as you pointed out, it is not because of high rates but it may be those high rates that attracted investors out of stocks because they are buying treasuries. sonali: finally. it has been a few days since we have seen that happen, but not only are you below that 6000 level on the s&p 500, you are also below 5900, so it is interesting to see how much ground we have given up. matt: above 450 on the 10 year.

this is bloomberg. ♪ sonali: welcome back to our bloomberg television and radio audiences. k and katie greifeld today. we are watching the moves happening in big tech, because under the biden administration, the world's biggest tech companies have been fighting regulatory battles including the antitrust front. privacy, national security, and competition. and can major tech firms spec anything different when it comes to president-elect trump's policies? lia, when you think about the changes ahead, there is some of this tone that we'll be tough on big tech. where will it exist and where won't it? >> the trump folks are definitely going to keep up with the pressure on and i trust f -- antitrust for big tech companies. the nominee to head of the justice department has long been a google critic and she has worked for a number of google critics. people expect her to keep up the pressure on google and continue with the path of the biden administration to look at a breakup of the company. at the ftc, andrew ferguson is trump's nominee. he is currently a commissioner and has taken a

. >> michael mckee from bloomberg radio and television.ou have cut rates by 100 basis points this year, we have not see much change in mortgages, auto loan rates or credit card rates. you say that you are significantly restrictive. are you running a risk that the markets are fighting against you and the economy could be more at risk of a slow down then you anticipate? >> so the risks -- i'm sorry, the rates you talked about are really longer run rates and they are affected to some extent by fed policy but also by many other things. and longer rates have actually gone up quite a bit since september, as you well know. and those of the things that drive, for example, mortgage rates more than short-term rates do. so we look at that. we look at all financial conditions and we look at what is happening in the economy what we see happening in the economy again is, most forecasters have been calling for a slow down in growth for a very long time and it keeps not happening. so we are now well into another year of birth. it looks like it might be 2.

morning to everyone out there, the dozens of people watching bloomberg television and listening to bloomberg radioller here was sonali basak and paul sweeney. we have merged shows. we are simulcasting with bloomberg intelligence. we are excited. we are having a little bit of fun. we are celebrating the end of the year. celebrating hong kong as well. look at those beautiful fireworks. bring them up. sonali: it is exciting, guys. matt: very cool. it is nighttime there, it is daytime here. it is magical. sonali: it is new year's somewhere. matt: for those of you believe in the roundness of the earth. we have markets that are not as exciting as fireworks, but we are climbing a bit. very little bit. the s&p 500 up .04%. the dow jones industrial average doing a little bit better, up 48 points. we are not seeing the fireworks in markets are we? sonali: you are seeing the nasdaq down on the day. though you are seeing the s&p 500 holding onto its gains, but barely. we have been keeping a close eye on that throughout the morning trade because last day of the year you would want to see in the green, but it i

sonali: welcome back to our bloomberg television and radio audiences. longside vonnie quinn. we are going to talk about the shipping industry. it's been hit with numerous challenges throughout .24 and it's looking to face new challenges in 2025. that includes terrorist threats, geopolitical threats weighing on the industry. flexport ceo ryan petersen joined bloomberg earlier to talk about how he is charting a course for his company. ryan: people are trying to get goods in before a potential strike or tariffs. if you are concerned about those things, which you should be, you have the flexibility of your supply chain, you want to get them in as soon as possible to avoid the confusion. >> how much can we draw upon the 2016 election when it comes to mapping out the impacts of some of the tariffs we are talking about? ryan: we have seen this movie before in many ways. tariffs were not as disruptive as people maybe expected them to be. they existed throughout all of human history, how governments have funded themselves, so people can adapt. it is not a huge sh

welcome to "balance of power" on bloomberg tv and radio. i'm kailey leinz.dly toward the deadline on midnight friday. we will go live to capitol hill in a few moments where republican congresswoman nicole malliotakis will be joining me. also on the hill, rfk junior, trump's nominee for health and human services. we will get into his prospects with our political panel and we will talk about his vaccines use specifically with dr. cantor of rutgers university. an important headlines coming out of israel and ukraine today. it is all had this hour but we begin with a check on the markets and charlie pellett has a look from new york. charlie: we have the dow, s&p, nasdaq very much in the red. this is

welcome to balance of power on bloomberg tv and radio. i am kailey leinz.ou the latest from capitol hill. an important conversation with the incoming chairman of the house financial services committee. congressman french hill will be with me in just a few moments. as trump's health and human services nominee takes to they'll himself, -- the hill himself, rick davis and jeannie. antony blinken wrapping up his trip to the region and says the u.s. has made direct contact with a syrian rebel group in the aftermath of the downfall of bashar al-assad's regime. we will have more with the center for politics. there is a lot we have to bri

we've got a special edition of "bloomberg markets," simo casing on radio and television.00, off 29 points. not much movement on the index level. volumes are low, as we would expect. yields are higher off the highs of your treasury, crude is flat today, $70 per barrel. that seems to be the trading range on bitcoin. off, just below the 96,000. david: new home sales rebounded last month as builders and consumers sealed the deal's delayed by storms in the south and buyers took advantage of heavy sales incentives. here is what brown harris stevens had to say about the market. >> all real estate is local. depends on where you are, the demand. one example, something like palm beach, if you put something on the market there's a swarm of people who want to buy it, but that's more typically high-end and expensive. connecticut, there's no supply. when someone puts a home on the market, people are lining up to put a bid on the homes. after more supply, it comes down. once the buyers get into the market, you start to see fluid myths with supply and demand intersect, that's a healthy h

welcome to "balance of power" on bloomberg tv and radio.washington, where republican lawmakers are meeting this hour on potential plan c, multiple votes on a legislative package that failed on the house floor last night to shut down and kick the can down the road until march. we will have the latest with laura davis in this hour. plus i will be joined by former republican congressman and ways and means mitty chair kevin brady, as well as sarah chamberlain. our political panel, jeanne sheehan zaino and brittany martinez, are coming up as we digest everything that has happened on capitol hill the last several days. we begin with a check on the mar

. >> michael mckee from bloomberg radio and television. even though you've cut rates by 100 basis points this year, we haven't seen much change in mortgages, auto loan rates or credit card rates. you say you're significantly restrictive. are you running a are risk that the markets are fighting against you and the economy could be more at risk of a slowdown than you anticipated? >> so the risks that you -- sorry, the rates that you talked about are really longer run rates, and they are affected to some text by fed if policy, but they're also affected by many other things, and locker rates have gone up quite a bit since september as you well know, and those are the things that drive, for example, mortgage rates more than short-term rates do. so we look at that. we look at all financial conditions, and then we look at what's happening in the economy. so what we see happening in the economy, again, is, you know, most forecasters have been calling for a slowdown in growth for a very long time, and it keeps not happening. so we're now well into

bloomberg markets." carol massar, vonnie quinn across tv, radio, youtube and bloomberg originals.en certainly will be in 2025 is the auto universe, automakers across the globe facing mounting pressure. a lot of things. growing competition from china, even though you can't buy it here yet in the united states, it is on everybody's radar. then you have a about ev regulation whether it is in the united states or in europe, so a lot coming out of the auto universe. let's get more with bloomberg's detroit bureau chief. david, sounds like a fair amount of speed bumps out of the ev universe. walk us through it and what you're thinking about through 2025 2025. david: sure. when we think about what will probably happen, most forecasts say auto sales will creep up a bit. three seems to be the betting odds. so let's say it is 60 million vehicles plus, a little bit of growth over overall retail vehicle sales -- 16 million. if trump takes over the $7,500 credit, that puts pressure on the ev market. all -- the automakers non-tesla for the moment, are trying to get the costs down so they can pla

welcome to balance of power on bloomberg tv and radio.ton we finally received the text of a continuing resolution to keep the lights on for the federal government past friday. it is jampacked with other matters that have members of congress upset and we will get into the details with jack fitzpatrick of bloomberg government and our signature political paddle -- panel. and we are one hour from the final fed rate decision of the year and we will have more with the former chief economist for the national economic council in the first trump white house. let's check the fed day market. charlie pettit has a look. charlotte -- charlie: good day from new york

kailey: i would like to welcome our global bloomberg television and radio audience as i am joined inocratic senator amy klobuchar of minnesota. thank you for being here. you are leading a subcommittee hearing today titled continuing a bipartisan path forward for antitrust enforcement and reform. i wonder in what will become january a republican controlled congress, what that bipartisan path looks like? sen klobuchar: thanks for having me on. i think what you would in this area of antitrust you've seen some broad bipartisan agreement on a number of these cases. for instance, the google case started under the trump administration, the first trump administration as did the facebook case. google was at the justice department. then it proceeded through the biden administration. the biden administration also brought major cases against ticketmaster and other companies. you have seen a more aggressive antitrust enforcement over the last few years. now you have a new appointee and at least one of them is the belief that the justice department with some former democratic antitrust enforcer sa

bloomberg technology." don't forget to check out our podcast. you can find on the terminal as well as online on apple, spotify and iheart radio. erg. ♪ ♪ (♪♪) (♪♪) 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 and more in prospectus at invesco.com [narrator] not all multi-millionaires built their wealth the same way, you have... the fearless investor. the type a cpa. the bootstrapper. the bootmaker. yeehaw [narrator] but many do have something in common. we all trust schwab with our wealth. [narrator] thanks to our award-winning service, low costs and transparent advice. every day, over a million multi-millionares trust schwab with more than two trillion dollars of their wealth. at t. rowe price we let curiosity light the way. asking smart questions about opportunities like clean water. and what promising new treatment advances can make a new tomorrow possible. be

bloomberg technology." we want to welcome our tv and radio audiences worldwide to "bloomberg technology." announced they will be buying it -- they will be buying interpublic group. here to discuss in an exclusive interview, john wren and philippe krakowsky. gentlemen, welcome. i've said here on the technology show thinking about the technological disruption that has happened to advertising. is this in response to that? is this to take on alphabet and called more of global revenue? john: technology does play a role in this. both philippe and i have focused on that in our conversations over the course of the last year. when you cut through quite a bit of what we were discussing, if you look at our industry five years ago, 10 years ago the barrier to entry was very low. you just had to be a brilliant person, right? caroline: just a bit of billions. john: with a great idea. now in order to properly service clients in this new era it is key to have those very bright, very talented people. it is incumbent on us to enable them with the best tech and data we possibly can for them to garner the in

radio audiences. you are watching "bloomberg markets.". we are looking at a volatile market. >> essentially the s&p has gone nowhere today but it is still above 6000. we got a little bit of economic data. claims arising to the highest in more than three years. initial jobless claims came in down 1000. i do not think there are many people trading. sonali: there are not many people around. we are looking at 1, 2, three more trading days in the year and not a lot to happen in between those days. if you stay above the 6000 level, you are looking at the biggest gains back to back. looking out of market that has not been this strong since the 1990's. ending on a strong note. vonnie: bitcoin down 2.5%, trading around $95,000 a coin. oil is below $70 a barrel. let's start with economic data. continuous jobless claims at the highest point in three years. initial jobless claims fell below estimates last week. joining us to discuss this is matthew, reporter from bloomberg news. it seems like the market recalibrated and then over recalibrated. it look

radio show. she also presented one of the election debates earlier in the summer on the bbc. and she's leaving. yeah. she has been hired by bloombergent a new global interview series. alex farber is the times�*s media correspondent. he's been reporting on her career plans, and hejoined us. so it's a story that i had been following for some time. over the summer, mishal had made some comments to the sunday times in which she had alluded to the fact that she was thinking about what might come next for her when her time on the today programme came to an end. and, really, ahead of that and as a result of that, i had been looking into how long she had left on the programme, fundamentally, and i got to a position where it was clear that we were getting to the sharp end of those conversations. and, yeah, as you point out, ran a story that set out the expectation that she was going to be stepping down from the today programme. and whilst i had heard some noises that there was concerns that she may well be leaving the bbc wholesale, i was also aware that there was a lot of work under way to try and get her to stay, and so wasn't confident e

radio and tv guest. he's having an interesting life. tusk once ran campaigns for new york city mayor michael bloomberg, and then went out on his own as aolitical consultant. a potential client was seeking to introduce its novel ride share concept into new york city, and sought out his professional services. but this company said we might not be able to afford your fee, so bradley tusk took payment in the form of stock options. that company was uber, and tusk is now a wealthy man. having done well, he's now seeking to do good. his latest project, trying to sell america on the idea of voting by phone. his latest book, vote with your phone why mobile voting is our final shot at saving democracy. it makes sense when you think about the fact that we do everything on our smart devices, including our banking. and yet there's something that holds us back from the idea of casting our ballot by phone. for those who are skeptical, bradley tusk has an answer what's the explanation? what's the answer to those who are concerned about ballot security? >> the answer is twofold. >> one is we have built a system that meets every recommendation that the