on the podcast. we will send it back to you in new york. scarlet: thank you. bloomberg's david gura in washington with outgoing sec chair gary gensler. we want to reflect on some of what he did tell us and bring in bloomberg balance cohost kailey leinz. it is interesting that gary gensler is minimizing his role in what he has done talking about how we are just a securities regulator and do not have any greater mission than protecting the public. what stood out to you? kailey: it was interesting that he was trying to compare himself with his predecessor in some way . the idea that the enforcement actions he has taken flak for when it comes to the crypto industry, which has had an antagonistic relationship with the sec, he was suggesting that started with a lot of enforcement actions himself. it was not just gary gensler initially posted because of legal challenges. he had to relent, the court making that decision in many ways for him and the other commissioners. we have seen pushback through the courts to many of the rules he has tried to pursue, not just when it pertains

tom: bloomberg's jill thesis on the shift, dependent on elections, who will be new leader? ug -- this is bloomberg. ♪ ♪ >> they're having trouble communicating, tariffs are targeted, it adds a different implication. tom: bill dudley there on uncertainty around tariffs, the wall street or the washington post report i should set around trump, he pushed back. uncertainty around tariffs priced into of course the bond market. not a new phenomenon, above longer-term rates coming through at the highest level, leading to longer and premium being demanded on concerns about tariffs, let's with the board. similar story around the u.k., big auction, 10 year yield up 40 basis points since october highest levels in the quarter of the century, yields of around 5% for the first time since gordon brown. flip the board, jensen wall giving a speech and you soared the stock closing in on fresh records around chips and software and automakers, we have an interview with jensen long and tomorrow we speak with gary gensler. that interview will be fascinating. up next is the opening trade, they are

technology. ♪ caroline: sirius xm says it is focused on growth. bloomberg'sdiscussion on ai implementation. >> in some ways, i think we are anti-ai in terms of content creation and duration, so we pride ourselves on the hosts and programmers that we have, the people that actually put together the channels and shows. it is the voices you hear every day on your commute that really drive that intimacy that audio offers and the connection. where we will leverage ai is in some respects where others have used it as well, to provide better discovery and personalization. we hope our programmers can create an experience to help you find what you love but also the technology can create more personalization around marketing and the product itself to enhance that more. and of course there are other benefits for ai in terms of cost reduction and efficiencies in the business overall. ed: last month, he basically said this is the revenue outlook for 2025 and investors were disappointed. you have said you are going to cut costs. how is the cost-cutting going? what factors, i

on. john hardy is a bloomberg news editor joining us from washington. n national security fears after two new year's attacks. we are at the white house with the latest on the response. ♪ scarlet: this is "bloomberg markets." a deadly pair of attacks first in new orleans and then an explosion of a tesla cybertruck outside of donald trump hotel in las vegas. the fbi speaking moments ago saying the suspect in new orleans acted alone and so far there is no linkage to the cybertruck explosion in vegas. with get the latest from tyler kendall who joins us live from the white house. what else can you tell us about what the fbi was willing to disclose? >> i'm here at the white house were president biden just touched down in the last 10 minutes. we are being told he is being ushered into the situation room so he can eat with his national security team to get an update on these two incidents. we are expecting an update once that briefing is over. as you mentioned the fbi briefing, last hour, president biden had came out previously saying there were no direct links

tim: it is a great piece with many folks on the bloomberg news team. let's bring in keith buchanan. it is about $3 billion in assets under management. herbie mentioned back to back years of gains on the nasdaq 100. remarkable couple of years. do you think there is still room to run for mega cap tech? >> thanks for having me. we have been moving and doing a more balanced stance over the last couple of months. we are really focused on the value collision course set up for 2025. one of the most curious collision courses across our economy and markets. we moved into a more balanced stance. we look at growth as dominant on the marketplace. we had this most recently in 2022. ai spending is a story. but at what cost is that coming? are we looking at valuation that grows into infinity? at what point does that price into the scenario we are in now? also, what is to come over the next couple of years? and what cost does this ai spending come? that is a boon to earnings. does it come with wage gains that could cause more consternation on the consumer and consumer spending? that let us to a more

stay with us throughout the -- stay with us throughout the afternoon right here on bloomberg. ♪ liker. and what promising new treatment advances can make a new tomorrow possible. better questions. better outcomes. lock in let's go. better questions. rated e for everyone. [rock and roll music playing] xfinity. made for gaming. rewards members, get early access to an ea sports fc25 kit. visit xfinity.com/rewards. announcer: from the world of politics of the world of business, this is "balance of power." ♪ live from washington d.c. ♪ joe: the high court signals it is likely to uphold the tick ban. welcome to the fastest show in politics as the supreme court today hears arguments on the future of tiktoks, ahead of a deadline to divest or ban. i'm joe mathieu alongside kailey leinz in washington. welcome to the friday edition of "balance of power. this just coming on the terminal. donald trump's new take on this, his evolving position, is why we are here today. kailey: and the ban is set to go effect one day before tromping back in office and incidentally 10 days before he is back in offi

this is "real yield," on bloomberg. ♪ -what've you got there, larry? -time machine. gonna go back and see how the pyramids were built or something? nope. ellen and i want to go on vacation, so i'm going to go back to last week and buy a winning lottery ticket. -can i come? -only room for one. how am i getting home? sittin' on my lap like last time, ronald. fine, but i'm bringing this. [ whirring ] alright. or...you could try one of these savings options. the right money moves aren't as far-fetched as you think. there it is. see? told you it was going to all work out. thanks, future me. ♪ all right. ♪ ♪ we're jammin' ♪ ♪♪ mom, look! ew! mom look. ♪♪ mom look. mom look. mom. look! mom. mom, mom, mom. mom, look what i got. the best way to make family memories in the caribbean, is at a place founded by a family from the caribbean. vonnie: i'm vonnie quinn, this is "real yield." coming up on monday, the j.p. morgan health care conference gets underway. plus, earnings from kb homes. tuesday, kdi with confirmation hearings taking off for the trunk cabinet picks. wednesday, d

all of that and more over the next hour on "bloomberg technology. first, check on the markets. tech is driving stocks higher today, the nasdaq 100 is up 1%, 86 stocks higher led by nvidia, microsoft. on the downside we have got apple lower again. we will be speaking with ryan in a few minutes on their longest losing streak at apple s november, down from the post-christmas all-time high. the big question, katie, can the gains old? we saw the same thing play out yesterday when stocks started out higher and close lower. katie: yesterday was actually the worst trading day of the year. [laughter] thank you for laughing. tim: you got it. bitcoin, rising for a fourth day in a row with investors pulling money from the etf, 330 $3 million according to yesterday's data. katie: i would say that's its worst outflow ever, but for a $50 billion fund it's amazing that only that much counts as record outflow. in any case, talking about individual names here, we have to talk about nvidia shares. big tech, nvidia is driving the indexes higher, up 3.5 percent. not a huge move in the grand scheme,

one in las vegas. lizzy: let's get more with bloomberg's derek wallbank. america on tenterhooks for more details but what have we actually learned the last 24 hours since the attacks? >> that really is the case. there has been a lot of unease, uncertainty and disquiet about the fact that these two events could have happened. they did happen in close proximity time-wise over each other. one in the heart of new orleans, very big tourist city, the other in las vegas which needs no introduction as a tourist mecca of its own. the fbi is saying no definitive links. they have not been able to establish that one was directly to do with the other, however, you noted there are similarities. both people suspected to be involved, in both cases, were members at one point of the u.s. army. although there is way more people who serve, who have no difficulties at all, you couldn't possibly suggest anything like that. i think investigators are trying to figure out what could have been going on that would have prompted these things. because right now, candidly, the fact that

thank you so much for joining us here on bloomberg. lena: delighted to be here. francine: what's it like being the chanel chief executive? lena: it's creative, energetic, vibrant, the sectors doing well, it's a great place to be. francine: what difference do you want to make at chanel, on the business, longevity, what it stands for, sustainability? leena: i want to lead chanel into the future along with my team. and lead chanel into the future by protecting what is unique about us. and by evolving as a scaled iconic business and brand. it's always important to understand the context we operate in. the context we have externally is a very dynamic. macro economic challenges, inflation, complete fragmentation, ecosystems, winning hearts and minds of people is so difficult in today's day and age. we see all of that externally. ai. there's not a week you don't hear about ai. all of this is happening externally and internally it has been a phase of rapid growth. in the last 10 years we have more than doubled our revenue, we have more than double the number of people wh

and we have a full rightup on the bloomberg terminal. this is according to source. creating a new venture that would potentially include u.b. soft's asset. so we watch both of those companies, of course, on the back of this news. and we'll bring you more details and as and when we get it. ten cent trading up by 1.4%. the s.e.c. serving elon musk for waiting to disclose his acquisition of twitter shares in order to build his position at lower price. musk lawyers call ate sham after a multi-year campaign of what he describes as harassment. for more, let's bring in bill. this is a parting shot >> if the s.e.c. there will be change at that organization in a few days' time after the inauguration of course, of incoming president trump will anything come of this? >> yeah, it looks like it could be a symbolic parting shot. it's too early to know if there will be real consequence. the crux of the argument that he passed this ownership threshold of twitter, back in march, late march, 2022 in that he delayed reporting that to the public to investors in that time after he passe

leena nair, thank you so much for joining us here on bloomberg. leena: delighted to be here. francine: what's it like being a chanel chief executive? leena: it is the best job in the world. it's creative, it's energetic, it's vibrant, the sector is doing well. it's a great place to be in. francine: so what kind of difference do you want to make at chanel? is it on the business, is it longevity, is it what it stands for, is it sustainability? leena: you know, i want to lead chanel into the future along with my team. and lead chanel into the future by protecting what's core to us, by protecting our differentiation, protecting what's unique about us. and by evolving as a scaled, iconic business and brand. it is always important to understand the context we operate in. the context we have externally is very, very dynamic. geopolitical uncertainties, macroeconomic challenges, inflation, complete fragmentation, media channels, ecosystems. i mean, winning hearts and minds of people is so difficult in today's day and age. so we see all of that externally. ai. i mean, there's not a we

bloomberg daybreak: europe." chinese ev giant byd has said a new with these deals record on december spurred on by subsidies and extra's get more from our bloomberg h a transport reporter vindaloo -- linda lu. we are looking at byd's record sales numbers, but i wonder where that signals for the chinese ev marketed more broadly in 2025? >> byd sought a spectacular september where it launched 510,000 deliveries of ev's and plug-in hybrids. that brought their full year sales figure two 4.2 7 million cars, but it also means there is not by space for other companies to really try to eke out market share. some of the smaller players are struggling and not meeting their targets, and you have companies facing financial difficulties, so we are expecting the competition to remain fierce into 2025. lizzy: by contrast, tesla might not reach its deliberate guidance, so i wonder why that is dimwitted means for global eb demand -- ev demand. >> we are seeing analysts estimates putting tesla's fourth-quarter delivery at a record high, but we are not sure it will take it to the 1.8 million or so ev's tesla needs to sell to maintain s

that does it for bloomberg markets this hour. we'll be keeping an eye on the u.s. e await this speakerphone. the vote is due to begin shortly , and mike johnson is once again in the running as speaker of the house. from new york, this is bloomberg doing -- from new york, this is bloomberg. ♪ lock in let's go. rated e for everyone. [rock and roll music playing] xfinity. made for gaming. rewards members, get early access to an ea sports fc25 kit. visit xfinity.com/rewards. announcer: from the world of politics of the world of business, this is "balance of power." ♪ live from washington d.c. ♪ joe: the new congress is called to order. welcome to the fastest show in politics. we do not have a speaker yet. i am geomet alongside kailey leinz in washington. kailey, the nominations have been set. hakeem jeffries, mike johnson, and the roll call vote is officially underway. kailey: there are 434 members present and voting as we speak, that makes 218 the magic number to secure the gavel and be the next speaker for mike johnson, the incoming speaker. that means they can only a

on paper. vonnie: welcome to bloomberg markets. we have risk on rallies as we hit noon in new york.market after core consumer prices eased in december. we are back in the green for the year for the s&p 500. we are off our highs on the session. the nasdaq 100, the key performance metric in these markets, up 1.7% and we have given up 12 of those basis points. we are at 4.67 on the market. the dollar index did strengthen below 1.09. we are back above 1.09 now. the nasdaq gave up 15 basis points this

emma grede, thank you so much for joining us on bloomberg. emma: thank you so much for having me.e: this is so exciting. i mean, you represent so much for so many people. everything you touch, all the businesses you touch turn into gold. did you ever think that you would be such a success? emma: no. and that is mostly because most of the businesses that i touched early in the days didn't turn to gold. [laughter] i love this idea of like, overnight success and i feel i would love to continue to perpetuate that myth, but i have just done a lot, and there has been a lot of trial and error along the way. and i feel like i have probably done every job imaginable, from having a paper route when i was 12, to working in a deli, to working in shops, to starting things that were less successful, to starting things that had medium success. i feel like there has been a long journey and i am really thankful that now i am 41 years old and i am starting to see this type of success, which is really great. francine: you were always starting the journey, you always wanted to succeed. is that what a

you will find the podcast on the terminal and online. this is bloomberg. ments 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 communit

you can find it online on apple and spotify. this is bloomberg. : 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

on the s&p. here your bloomberg green. n on wall street, kicking off on a high note, jp morgan traders scoring their biggest third-quarter hall ever while wells fargo beat estimates and forecasting an increase for 2025. goldman sachs earnings-per-share came in at $11.95 per share, much higher than $8.35 forecast area citigroup rounding out for the day posting market revenue that beat estimates and announcing a $20 billion stock buyback. shares are up 3.8% in the market. southern california face another night of extremely critical fire conditions due to high wind and minimal humidity, leaving 10 million people at risk. the fires have already claimed the lives of at least 24 people and have burned down more than 12,000 buildings including many homes. and the washington post reported elon musk won't be joined by jeff bezos and mark zuckerberg at donald trump inauguration on monday. the three tech moguls will sit on the dais alongside former presidents, trump's family, cabinet picks and lawmakers according to a trump official w

on a cease-fire. they told us at bloomberg that we are on the brink of a deal but now, do trump is also taking creditking to true social, describing an epic cease-fire agreement would never have happened had he not been elected in november. regardless of whether or not that is true, his incoming administration has been working in tandem with the biden administration on this effort. obviously, this is the result of what has been months and months of effort in which we have seen multiple head fakes. we had reporting that we have been close to a deal before only for no agreement to result and we have

bloomberg. ? >> i still think you are 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 oncer 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, like my own. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. ♪ ♪ kriti: we are an hour away from the opening trade and trump's team consid

on the outlook. that's next. this is bloomberg. ♪ >> welcome back. is morning after they reported better-than-expected results on stronger demand for ai. let's bring in our asia technology reporter for the details out of taipei. this seems to be bolstering expectations around their ability to profit from ai. >> right. as you know, they are a major assembler for nvidia servers. it is actually the biggest in the world so it's been closely watched to see the future of the build out. i was surprised and i guess so is the market that they had such great sales in december because this is not a quarterly earnings report but a monthly sales report and brought together we get a picture of the fourth quarter, which sales were up 15% , exceeding analyst expectations and that is thanks to a 40% monthly sales growth year on year and so that is spectacular and they are also saying that the outlook for the first quarter will be significant year on year so that is giving some breathing room for investors who are worried. it was single-digit growth for november and oc

. >> this is what the national security adviser, jake sullivan, had to say today on bloomberg regardingossibility of a deal. >> there is a distinct possibility that we can get this deal done this week before president biden leaves office. but as you say, we've been here before. just this morning, i was on the phone with brett mcgurk, who has been basically camped out in doha. he's been there for more than a week working the details within the framework president biden set out last year. i spoke also this morning with the qatari prime minister and with one of the key israeli negotiators. and there is a general sense that this is moving in the right direction. the question now, over the next short while is can hamas get to. yes. >> well, jake sullivan there is saying, can hamas get to the finish line on the palestinian side? >> they will be blaming israelis for putting obstacles in the way of the deal. crucially, according to one of those officials who spoke to nbc news, the deal would involve the withdrawal of israeli forces out of, quote, populated areas, which means that areas that hav

find the story on bloomberg.com and the bloomberg terminal. that's sara forden u.s. legal team leader in washington. another major story. major changes at jp morgan. the vanke named a replacement for daniel pinto. she is exiting her role as ofs the co-ceo of commercial and investment banking at jp morgan and will work alongside pinto until he officially leaves the role june 30. this leaves the ultimate question of who will replace jamie dimon unanswered. >> this is probably the best bench in banking, period, end of sentence. the company has done a great job getting these in front of everybody. i think that everybody is comfortable with the next successor. sonali: we are joined by a senior reporter from bloomberg covering banking. when we think about what happened at jp morgan i will steal a line from mike mayo. confused. the idea that she does not want the ceo job leaving succession open. sri: one jeff bezos talks about the washington post he talks about a complex of fire. somebody like jennifer piepszak is replacing a 40 year veteran of the firm. in the same breath

on track. when you're planning for it all... the answer is j.p. morgan wealth management. ♪ three little birds ♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ scarlet: this is "bloomberg marketsidia. shares under pressure as the market declines. in the last hour the ceo and cofounder jensen huang spoke with ed ludlow on the heels of major product updates and announcements at ces in las vegas. take a listen. jensen: ai will reinvigorate the videogame industry. for developers, it will reduce the cost of creating the content. on the other hand, all the characters that are in the games you will be -- will be smart characters in the future. they will be interacting with you on a much more intelligent way. the games are going to be more interesting, the characters more interesting, the content development cost will decline. that will be great for the industry. i think the future is bright for videogames and these virtual worlds. artificial intelligence will reinvigorate. ed: may i pick it up? $3000. a supercomputer sitting on the desk. jensen: imagine you were sitting there just like that, working on your pc. ed: why would i need one of these? probably not me but how big is the add

coming up, jason thomas on the fed's definition of restrictive monetary policy. this is bloomberg futures on the s&p are positive, up close to 11%. two hours away to the cash open. here's manus cranny. manas: las vegas had something for everybody, from the jacket that jensen wore to the sprinkling around the companies he's doing business with. the stock was up aggressively so far this year, up 11% at the scale of adoption of blackrock and blackwell. pc gamers, developers, creative's, talking about a robot. hard work, $3000 hard work, pc for ai developers. this is about encroaching more into robotics and sprinkling a dust for everybody. huber got a bit of a halo effect. yesterday i was talking about the upbeat guidance from them along with a buyback. nvidia, uber, the data from uber will lock into nvidia and give you the road forward, supercharging the timeline for safe and scalable autonomous driving. it was a drop the mic moment for a number of different companies. rounding it off with tesla, they are on the back foot this morning. downgrading the stock. why? valuation and execut

investors optimistic on a bloomberg report that donald trump's economic team is considering a gradual of john hancock. we have been whipsawed from date appointed data point. emily: it's remarkable. one thing we have been watching is the moves in the u.s. dollar. one thing that is starting to constrain equity markets so far this year is the significant strengthening in the u.s. dollar. think about large-cap equities which were carrying the crown of leadership last year, 40% of the revenues are derived from abroad. that could be a significant issue for large-cap stocks. this morning we are seeing a bit of a modest pullback in the dollar. that is probably helping risk assets a little bit. jonathan: rates drive beta. foreign-exchange drives dispersion. are you seeing that on the s&p? emily: we are seeing a little bit of a broadening out of leadership. we are seeing some pressure on markets. what we typically see in these environments where bond yields are backing up, inflationary pressures are potential -- or potential pressures, value stocks do better. small caps get hurt. they have the

on apple. this is bloomberg. ♪ i can't believe you corporate types are still at it. s. and using workday to put finance and h.r. on one platform. tim, you are a rock star. using responsible ai doesn't make you a rock star. it kinda does. you are not rock stars. (clears throat) okay. most of you are not rock stars. oooh. data driven insights, and large language models. oh, that's so rock roll. it is, right. he gets it. yeah. for generations. ♪♪ we helped the lost generation find their way. the greatest be great. we watched boomers grow. [laughing] we are x, y and z. and this january, a new generation begins. generation beta so, now what? we help protect their life's work, like no generation before. so they can live a better life longer. ♪♪ 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. better questions. better outcomes. mom, look what i got. (laughing) the best way to make family memories in the caribbean is at a place founded by a

update on stories else where with your bloomberg brief.rders. parts of northern santa mon yaik are under alert as widespread and managing gusts worsen the situation. the palisades fire was almost at 3,000 acres. two other blazes flaired up overnight. southeast of santa clarita. president-elect trump has asked the u.s. supreme court to step in and stop his hush money sentencing from going forward. the sentencing is due for this friday, january 10. the filing follows a verdict from a new york judge who rejected trumps' arguement to vacate the 34 felonies in light of his victory. the judge who overall the trial said he won't sentence trump to any time behind bars. former president jimmy carter is lying in state at the capitol rotunda. lawmakers came together yesterday for a ceremony to honor his life and leggacy. the former president's state funeral will be held tomorrow where president biden will be among those delivering a yule gi. that's your brief. jonathan: thank you. shocking pictures out of los angeles. up next, we'll set you up for th

on defense. more than double the current target. no nato member, including the u.s., currently spends close to that level. u.s. president-elect's comments come after bloomberg exclusively to the eu commission's executive vice president about how the blocked plans to respond to the new u.s. administration. >> europe will remain an open market. it will not become a closed one. there is no gain in a trade war. however, europe cannot be the only continent open to global overcapacity. across the globe, markets are increasingly protective with state aid marking our industries on competitive. this must be addressed. we have both offensive and defensive trade instruments that we must activate as part of a comprehensive economic strategy. this marks the end of european complacency or express -- or excessive openness. we need to protect our industries when they are not operating on a level playing field. >> one of the great risks of the european economy and european industry will be tariffs, what has been promised by donald, something that you are paying close attention to. i want to askedif there's no det european industries if that comes to pass? works regarding st

let's get you an update on stories elsewhere. here's your bloombergent-elect i'll trump is weighing in on the news nippon steel and u.s. steel filed two lawsuits to remedy the "interference" with new bonds acquisition. trump writing what would they want to sign u.s. steel. making much more profitable and valuable company. wouldn't it be nice to have u.s. steel once the greatest company in the world lead the charge towards greatness again. it can all happen very quickly. elsewhere it's the first full week day where the new york city congestion pricing program takes effect. the first such program in the u.s.. 1400 cameras and e-zpass detectors were switched on sunday to catch every vehicle traveling south of 60th street and hit them with a new nine dollar toll during peak travel times. it's part of a plan to bring $15 billion to the mta to upgrade subways and mass transit. the nfl playoff picture is set. the bills will host a broncos. they will head to broncos to take on the ravens and texans and chargers in houston. the chiefs at the first round by in

on this visit and how the u.k. could potentially carve a different path in terms of that relationship versus the trump administration incoming and arguably the european union. there is putting more coming out. this is bloombergn on a chart that reflects the unwinding of the trump trade. part of that is down to reassessing how far the fed will go. bank of america saying no more cuts this year, even suggesting the next move could be a hike. part of the risks around tariffs of course as well and this additional debt and deficit concerns and here you can see the russell 2000, one of the biggest beneficiaries on expectations of tax cuts from the incoming trump administration has unwound those gains and is now a negative territory. the s&p is not far off so that trade has deeply unwound. does that have further to go given the yield you could now be ticking up on a 10 year treasury versus the earnings yield of the s&p, which is about 1% below that 5% level and do you march higher above 5% and start targeting six? big question for the markets as you look at the pressure on u.s. stocks. further pressure on sterling today. markets and traders increasingly bet you could get below 120 on pound versus dollar, about 2% be

on the latest big take. that does it for this edition of "bloomberg technology."om ces in las vegas with jensen huang. don't miss it. ♪ leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management >> welcome to "bloomberg etf iq." katie: happy new year. scarlett: happy new year. katie: -- i'm feeling incredibly bullish. in the $15 trillion etf industry, we look ahead to the anticipated etf's and rising institutional interests. scarlett: the new top trend for crypto is in full swing to lure investors. katie: and we kick

elon musk to become the new owner before the new law banning the apps it goes into effect on sunday, bloombergeen in talks over the idea of elon musk platform is the right avenue. tiktok is dismissing the claims in these reports saying it's a. fiction. parent company by ants as appealed to stop the band in the commentary from the justices last week. elon musk has made no, about purchasing tiktok. former los angeles dodgers owner in o'leary ventures chairman kevin o'leary had expressed interest in buying the at. kevin o'leary was on with jesse watters on the newschannel, he said here's my favorite quote. look you can hear one of the stories every two hours that's what he told jesse watters last night. he said elon musk is a phenomenal entrepreneur that's what he told jesse but i'll add this about elon musk and twitter which he converted to x. there was a lot of leverage them elon musk had taken on. i would think he would need a consortium and a lot of par partners. >> a lot of people want this asset. it's an incredible asset, tiktok if you actually can wrangle it out of the chinese hands we don

on some middle ground. [inaudible] >> it is very difficult. that points up why this is been a battle of inches. i think the biggest success was the bloomberg administration understanding we cannot get congestion pricing but we do control the physical streets. there is a lot we can do on the physical streets with just the mayor. that may or may depend on albany for a lot of things. for most of the city tax revenue sources to public law enforcement. the setch of laws in which the city operates. but when it comes to what lane lienis this street belong to? the mayor can change that very quicklyr,. just having a mayor who will stand up for his or her appointees on the landscape of the street itself can be used for good or fulfill or fulfill ways cities not even gotten to yet. just that design in the streets is a good place to re- remember and to start with. >> our time is coming o short. we will have one more question, yes, sir? [inaudible] >> i think that respects to paul's i question. it would make a lot of sense to have a transit revenue source that's based on the value of the property a. if you are half a mile out from a major transit line

let's get an update on stories with your bloomberg brief.nd destroyed more than 12,000 buildings. over the weekend, firefighters got a brief break from the santa ana winds that have spread the flames across 37,000 acres. however, another round of wind gusts is expected today. the national weather service issued a particularly dangerous red flag warning for parts of ventura and los angeles counties run tuesday morning until wednesday. tesla has been audi for the first time in global sales. audi's ev's also declined, dropping 8% to around 100 62 4000. venture global is seeking up to $2.3 billion in its second ipo. they plan to sell 50 million shares in a range of 40 to $46 it plans to float on the new york stock exchange. jonathan: up next on the program, setting you up for the week ahead. you are watching "bloomberg surveillance." ♪ (cheerful music) (phone ringing) [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 man

on her fiscal plans. so far they are less than reassured. we will look at her options, next. this is bloomberg♪ tom: welcome back to bloomberg "daybreak: europe." u.k. market 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 relyin

jonathan: let's get an update for you on stories elsewhere this morning. here's your bloombergst 15 people were killed in a deadly attack at new orleans's french quarter early on wednesday. the attack involved a pickup truck and improvised explosive devices. the fbi is looking into connections to terrorist groups and whether the suspect acted alone. suspect, a u.s. army veteran, was killed at the scene. a tesla cyber truck exploded outside the trump hotel in las vegas. elon musk says the explosion was probably an act of terrorism. the driver was killed and seven people suffered minor injuries. musk said the explosion was caused by fireworks or a bomb. the president says officials are investing further there is a connection to the attack in new orleans. elsewhere, new jersey asked a federal judge to block new york from moving forward with its congestion plan. a judge rejected new jersey's challenge. the congestion pricing program would charge nine dollars for drivers entering the manhattan central business district during peak hours starting this weekend. the plan was designed t

on a post's accuracy. this follows some notable changes to its board as well. for more, bloomberg's lynn joanne joins us. ely relying on its user base now. >> as you said, it further aligns meta to the x approach of moderation and fact checking, which is to sort of crouch cap -- crowd source. one cannot ignore the underlying trend here. it is clear that in the past several months mark zuckerberg has tried to repair, if you will, his relationship with incoming president donald trump. that has been a relationship that has in the past been adversarial. i don't need to remind you that at one point trump was suspended on meta's platforms and has since been reinstated. since then zuckerberg has contributed to his inauguration fund and made efforts to make appointments that would be more conducive to a relationship with trump administration. caroline: he was interesting that this was the first announcement coming from joel kaplan, who is the chief global affairs officer. we are not only getting a more right-leaning global affairs officer, but also dana white coming to the board. >> that's right. a no white was a

the fed cuts really come out on the table or if it is a really weak number, they will probably say maybe the economy is not as strong as we thought it was. >> 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 reca

on the same. i it's very difficult and i think that points up why this has been a battle of inches i think the biggest was that the bloomberg administration understanding okay we can't get congestion pricing but we do control the physical streets there is a lot that we can do on the physical streets with just the mayor so the mayor may depend on albany a lot of things from most of the city's tax revenue sources to the public law enforcement. the set of laws under which city operates. but when it comes to what does this lane of the street belong to. the mayor can can that very quickly, just having mayor, who will stand up for his or her appointees on just a landscape of the streets itself. can be used for good or for will and in many or for ill, in many ways, it's a city hasn't even gotten to yet. so just that design the streets is a good place to re remember and to to start with i think our time is coming short. we'll one more question. yes, sir? how many cities have a relationship, a robust transit and the economic attacks created from that with the transit or, you know, sometimes as a system or groups or as a japan that t

johnson & johnson is focused on buying intracellular. bloombergs the deal for the company has a market cap of $10 billion could be reached as soon as this week. shares of intracellular are up 30%. >>> jamie dimon says tariffs, if used properly can help settle national security and unfair competition. in an interview with cbs sunday morning, dimon says he has not spoken with the president-elect about the tariffs and he would likely takeover as chairman when he eventually steps down as ceo. >>> the biden administration is delaying the enforcement over the nippon steel and u.s. steel to june. >>> europe's largest pension fund sold the entire stake in tesla in the third quarter last year. the spokesperson for the fund said it was due to issues it had with ceo elon musk's pay package. >>> turning back to the markets. futures are under pressure following the friday's jobs report. much better than expected there. critical is wednesday's cpi report. as you see here, a sea of red to kickoff monday morning. s&p down 46 points. the dow down 148 points. the n

strongg leader who, in the face of opposition made a major difference along the way. >> bloomberg was a group leader onrtation and was willing to take the political blowback for things that now seem to most people like common sense.e. make room for bicycles on the street and they have five and six lanes for car and truck whether moving traffic or parking traffic, to take elaine away and what happens in same thing with pedestrian causes. they should not have been as controversial as they were that they were willing to put up people making fun of them a lot mayors would say that way more important in its no more than my top 20 problems because in line to get more criticism and praise. in terms of an appointed official in the early 1980s they have a developer who became the transportation authority. he was the mtas first leader, 12 or 14 yearsy old by then he had enough capital in terms of being a credible person and going to the pacific median personal wealth if he did not get the support he needed, he could walk away from the job and going to end real estate and financial leaders and the media so we can

. >>> the clock is ticking on a ban on tiktok. bloombergling the u.s. business saying the report is pure fiction and they cannot be expected to comment. joining me to talk about it is peter harrell. it is good to see you. this has gotten up fair amount of pushback. i wonder if things are clicking for you >> i think this is something we see the chinese side float as a trial balloon. i have not gotten any evidence mr. musk is pushing this forward. there are american firms that have expressed interest . i do not think it will happen in the next week but if it happens after the ban comes of course, it would then fall off. >> what has been your view of this saga? quite the saga. president trump try to ban it at the end of his first term. biden debated it for a long time and then congress got involved. i served in the national security council for a few years. i security risks are real and i think a sale that rewards shareholders and makes sure it is a hugely important media asset is under u.s. ownership is an appropriate outcome. the other thing

on government spending in the u.s. economic picture, let's welcome stephanie kelton, known for her book, "the deficit myth." she a professor of economic public policy at stony brook and we welcome you to "bloomberg markets," thank you so much. the trump agenda encompasses a lot of things like energy freedom and reducing regulations . congress is on board to help them deliver. we know that. johnson discussed an all-encompassing bill for may or april. is that too aggressive? it would fit within the 100 day mark that any incoming president wants to deliver on, but it sounds like a lot. stephanie: it does sound like a lot and realistically it's more likely to be summer in possibly even fall. the tax cut jobs act the republicans passed the first time trump was president, that was december of 2017. it really took the better part of a year to get that done and they are really looking at something a lot more ambitious. scarlet: raising the question, why do it by one big bill? why not do it piecemeal? stephanie: i think the logic is they have a better and stronger hand of holding the coalition together if everybody basically has to hold their nose and vote for pieces but they don't necessarily like to ge

there is a lengthy opinion piece in bloomberg today on the website talking about california, the firesationwide trillion dollar hole in u.s. home insurance. places like california, floridaed, more so in floridaed because of hurricanes. people are not renewing policies or don't have the proper insurance. they can't get fire insurance or choose not to. this leads to rates going up and states being on the hook, maybe federal government being on the hook. senate budget committee last month published a report called next to fall. climate driven insurance crisis is here and getting worse and they talk about states in this country that are most at risk. florida, louisiana, california, texas. states that are experiencing highest number of nonlenewal rates. ul have less people ensure homes, rates for those paying for home insurance go up. that is trillion dollar problem. want to go back to pacific palisades for a second. zip code 90272, there were 9000 nonrenewals in that zip code pacific palisades. according to san francisco chronicle, that is 28 out of 100 policies that were not renewed. you