November 13, 2025 • 18 mins
On today's podcast:
1) President Trump signed legislation to end the longest government shutdown in US history, marking the official conclusion to a 43-day impasse that halted food aid to millions of households, canceled thousands of flights and forced federal workers to go unpaid for more than a month. Trump’s signature means the government can begin to resume normal operations, with federal workers expected back on the job starting Thursday. However it could still take days, or even weeks, for the federal bureaucracy to fully restart and dig out of the backlog after being closed since October 1st. Transportation Secretary Sean Duffy told reporters Wednesday he anticipated it could take as long as a week to start lifting flight restrictions at major airports.
2) Democrats have returned to pressing President Trump on his ties to Jeffrey Epstein, highlighting a selection of emails in which the late financier and convicted sex trafficker suggested the president knew of his activities. A congressional committee on Wednesday released some 20,000 pages of documents, pivoting attention away from the ongoing government shutdown and forcing the White House to respond to an issue that has frustrated the president and drawn scrutiny from parts of his base. The new information came the same day that a new House lawmaker was officially sworn into office. Adelita Grijalva, an Arizona Democrat, immediately signed a petition forcing a vote on legislation to compel the Justice Department to release files on Epstein.
3) Ukrainian President Volodymyr Zelenskiy implored European Union allies to overcome their divisions on the use of frozen Russian assets, saying fresh funding is critical for his war-battered economy to stay in the fight against Moscow. The EU has postponed until December a decision on tapping the Russian state assets to provide €140 billion ($162 billion) in loans to Ukraine, which needs new funding by early next year. Russia’s invasion has dragged well into its fourth year as Zelenskiy’s government deals with a battered economy and exhausted fighting forces in Europe’s worst conflict since World War II. With US funding halted, European governments have vowed to step up assistance to fend off a new threat from the Kremlin.
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Episode Transcript
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Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2 (00:09):
Good morning.
Speaker 3 (00:10):
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today. Karen, it's over.
Speaker 4 (00:16):
After forty three days, the longest government shut down in
American history has come to an end.
Speaker 2 (00:22):
On this vote. The a's are two hundred and twenty two.
The a's are two oh nine. The bill has passed.
Speaker 4 (00:28):
And after that vote in the House of Representatives, President
Trump signed the bill to reopen the government and put
federal workers back on the job starting today.
Speaker 5 (00:37):
We're sending a clear message that we will never give
in to extortion, because that's what it was. They tried
to extort. The Democrats tried to extort our country.
Speaker 4 (00:46):
The President spoke at an Oval Office signing ceremony heard
live on Bloomberg Radio. The new funding law does not
resolve the expiring health insurance subsidies that Democrats wanted to extend.
Senate Republicans have promised to vote on that next month.
And even though the government is reopening, getting it back
to normal could take a while.
Speaker 2 (01:04):
As we hear from Bloomberg's Steric Wallbank.
Speaker 6 (01:06):
We're going to be waiting for a couple of days
to get federal workers paid. It may take a couple
of days to get airlines fully back to their normal schedules.
We're still waiting to see about these economic indicators that
were delayed or paused during the shutdown. Most of them
are expected to come, but maybe not all of them,
but we're waiting to see when those are going to
(01:28):
get put forward.
Speaker 4 (01:29):
That's Bloomberg's Derek Wallbank. The White House says the October
jobs and consumer price reports might never be released due
to the shutdown. The Bureau of Labor Statistics has not
released a new schedule of data releases. The agency could
combine two months worth of data to get back on
track well.
Speaker 3 (01:45):
Nathan asked for airlines getting back on schedule. That Trump
administration is hoping to bring that in for US smooth
and landing. The Transportation Department and Federal Aviation Administration are
freezing of flight reductions at forty major airports at six percent,
rather than the ten percent previously planned. FAA Administrator Brian
Bedford says air traffic controller staffing is improving rapidly. Doubt
(02:08):
The Airlines CEO ed Bashton tells Bloomberg that things should
keep improving heading into the holidays.
Speaker 4 (02:14):
We know the importance of Christmas and Thanksgiving and the holidays.
That's our super Bowl, and that's what we rehearse and
plan all year long.
Speaker 2 (02:22):
We're going to be in really good shape now.
Speaker 3 (02:24):
The CEO, ed Bashton, spoke to Bloomberg from the floor
of the New York Stock Exchange. Get the full conversation
on the Bloomberg Podcast channel on YouTube. Airlines have canceled
almost ten thousand flights since restrictions were put in place
last week.
Speaker 2 (02:37):
Well, Karen.
Speaker 4 (02:37):
Another major story we're following this morning involves emails released
by Democrats involving convicted sex offender Jeffrey Epstein. Bloomberg's John
Tucker joins us with the very latest, John and Nathan.
Speaker 7 (02:48):
In the newly released emails, Jeffrey Epstein repeatedly discussed Donald
Trump with his co conspirator Gaylaine Maxwell Epstein, writing the
quote dog that hasn't barked as Trump, adding that one
of his victims spent quote hours with Trump at Epstein's home.
California Democratic Congress and Robert Garci is the ranking Democrat
on the House Oversight Committee which released the files.
Speaker 8 (03:10):
This email from Jeffrey Epstein saying that Donald Trump spent
hours with one of the victims, or that he knew
about the girls. I mean, these are things that should
bother us.
Speaker 7 (03:20):
The White House says that House Democrats selectively leaked to emails,
creating a quote fake narrative. White House Press Secretary Caroline.
Speaker 9 (03:28):
Levin this administration has done more with respect to transparency
when it comes to Jeffrey Epstein than any administration ever.
Speaker 7 (03:37):
In another email, Epstein wrote of Trump, of course he
knew about the girls. Epstein was found dead in his
jail sale in twenty nineteen. Both Republicans and Democrats in
Congress have pushed for more information, pitting President Trump against
members of his own party. Representative Thomas Massey of Kentucky,
Lauren Bobart of Colorado, Marjorie Taylor Green of Georgia, and
(03:57):
Nancy Mace of South Carolina have said they will join
with Democrats to force a vote for the DOJ to
release all Epstein files. The emails also revealed that former
US Treasury Secretary Larry Summers wrote to Epstein complaining about
what he characterized as harsh treatment of an unnamed man
who hit on a few women. Somers is a paid
(04:19):
contributor to Bloomberg TV. In the Your Income, John Tucker Bloomberg.
Speaker 3 (04:23):
Radio, All right, John, thank you. We now turn to
a Bloomberg exclusive. Ukraine's President Vladimir Zelenski says his country
survival rests on new funding from allies. The Ukrainian leader
Tom Bloomberg's Oliver Krook, European officials need to overcome their
divisions on the use of frozen Russian assets.
Speaker 10 (04:40):
They understand that we need their support and if I
hope God bless, we will get this decision. But they
will not have this decision. Of course, we together will
find out. We have to find our torment is the
question of all. We're surviving, that's why we need it
very much, and I count on partners.
Speaker 3 (04:58):
And Ukraine's presidents. E went on to say Russia's Vladimir
Putin had waged a deliberate campaign of intimidation against Europe
with recent incursions by drones and fighter jets into NATO airspace.
Speaker 4 (05:09):
Another geopolitical development this morning, Karen Chinese President Shi Jinping
is joining President Trump in skipping this month's G twenty
summit in South Africa. Instead, China will send Premier Lee Chiang.
She's decision means the summit will lack the leaders of
the world's two largest economies, along with fellow member Russia.
Speaker 3 (05:27):
Bloomberg News has learned the European Union is set to
propose a plan to the US NATHAN that would implement
the next phase of the trade agreement the two sides
reached this summer. The deal set of fifteen percent tariff
on most but not all EU goods entering the US.
Sources of the plan would focus on areas including tariffs
and market access standards, digital trade, technical barriers, and cooperation
(05:50):
on steel and aluminum.
Speaker 4 (05:51):
Well back here in the US, Karen futures have moved
mostly lower now following another record close for the Dow
Jones Industrial average. Bloomberg Markets reporter Valerie Titel says the
end of the government shutdown has boosted sentiment.
Speaker 11 (06:03):
This government shutdown coming to an end has been positive
for the equity market.
Speaker 2 (06:08):
Take a look at S.
Speaker 11 (06:08):
And P futures this week, we're essentially on track for
the best week in three months. Gold is up six
percent in the last five sessions, and a lot of
this can be tied to the fact that the Treasury
is going to be resuming their payments, and essentially that
is releasing liquidity back into the economy that had been
built up in treasury cash balances over the last forty
three days.
Speaker 4 (06:28):
That's Bloomberg's Svalary Titel and checking gold. This morning, it's
up another six tenths of one percent, trading at forty
two to thirty seven to ten per ounce.
Speaker 3 (06:35):
Shares of Cisco are higher. They are up more than
six and a half percent this morning. The largest maker
of machines that run computer networks and the Internet gave
an upbeat sales forecast. It's showing progress and its effort
to capture more artificial intelligence spending. Wu Jinho cover Cisco
for Bloomberg Intelligence.
Speaker 5 (06:54):
They're playing both the enterprise side as well as on
the AI data center side. They provide the high speed optics,
but they also provide the chips to help enable scale
cross and scale out AI networking. But they've partnered with Nvidia.
They will be using Nvidia ironically and Vidia chips in
(07:15):
their boxes, so Nvidia has an entry away to the
enterprise where Cisco excels in.
Speaker 3 (07:21):
And Bloomberg Intelligence is Woujen host as Cisco increased its
twenty twenty six forecast, exceeding Wall Street estimates. Cisco now
expects sales of as much as sixty one billion dollars.
Speaker 4 (07:31):
And Karen the earnings continue this morning when the world's
biggest entertainment company reports ahead of the opening bell. Bloomberg's
Tom Busby has more and what to expect from Walt Disney.
Speaker 12 (07:40):
A big concern for Disney subscriber growth at its various
streaming video services like Disney Plus, ESPN Plus and Hulu.
That's after a lot of customers canceled those services when
the company briefly suspended Jimmy Kimmel and over the content
feed dispute it's having right now with YouTube TV, but
with its cash cal theme Parks expected to deliver another
quarter of blowout profits. Bloomberg consensus calls for revenue of
(08:04):
twenty two point eight three billion dollars on adjusted earnings
per share of a dollar seven.
Speaker 2 (08:08):
Tom Busby Bloomberg Radio.
Speaker 3 (08:10):
All right, Tom, thank you. A new line of Cheetos
and Dorrito's won't leave anyone's fingers. Orange PepsiCo is introducing
naked versions of its popular snacks that strip out artificial
does as part of its push to boost healthier options.
The offerings, marketed as simply Naked spelled NKD, do not
have any added colors. PepsiCo says the snacks are designed
(08:33):
to taste the same as the original, but with a
novel appearance that the company is betting will interest consumers.
Time now for a look at some of the other
stories making news in New York and around the world.
And for that we're joined by Bloomberg's Michael Barr. Michael,
good Morning, Good morning, Karen.
Speaker 13 (08:50):
California Governor Gavin Newsom's former chief of staff has been
indicted in a corruption case. Federal prosecutors say Dana Williamson
allegedly inspired to divert about two hundred and twenty five
thousand dollars from a dormant political campaign for an associate's
personal use. Williamson is also accused of claiming more than
(09:10):
a million dollars in business deductions for private use. The
White House is responding after President Trump said that he
was open to using the revenue he claims the US
as collective from tariffs to send Americans a two thousand
dollars check. There are questions as to who would ultimately
receive these checks, and whether there is enough tariff money
(09:32):
to do it. White House Press Secretary of Caroline Lovett.
Speaker 9 (09:35):
We are currently exploring all legal options to get that done.
I don't have a timeline for you or any further details,
but I can confirm for you that the President made
it clear he wants to make it happen, and so
his team of economic advisors are looking into it.
Speaker 13 (09:48):
A federal judge is sent to hear arguments over motions
brought by former FBI Director James Comey and New York
Attorney General Letitia James against the US Attorney for the
Eastern District, Lindsay Halligan, who has indicted both of them.
They claim that Halligan, President Trump's former personal lawyer, was
not properly appointed to her position. A Baltimore police officer
(10:11):
has been indicted. Robert Parks is accused of intentionally driving
his vehicle at a civilian while on duty. Maryland State
Attorney Ivan Bates says Parks now faces chargers including attempted murder.
Speaker 8 (10:23):
If found guilty of all charges, Officer Parks faces a
maximum sentence of sixty five years of incarceration. There is
no maximum penalty for misconduct.
Speaker 2 (10:34):
In office.
Speaker 13 (10:35):
State Attorney Bates says after Parks struck a man in
a grassy area, he allegedly tried to hit the man
two more times with his car. Global News twenty four
hours a day and whenever you want it with the
Bloomberg News Now Michael Barr and this is Bloomberg Karen.
Thanks Michael.
Speaker 3 (10:50):
A time now for our Bloomberg Sports Update, and for
that we bring in John stash.
Speaker 14 (10:55):
Hour as Darren NBA Stars with Big Games, denvers Na
Kola Joki. It's fifty point does the Nuggets beat the
Clippers and in Golden States win at San Antonio. Steph
Curry went for forty six. Oklahoma City defended NBA champs
are now twelve and one this year. Thunder up by
thirty two at halftime in a blowout win over the Lakers.
Jetson Patriots played tonight in New England. The Patriots have
(11:18):
won seven in a row. Cy Young Award winners Paul
Skeins of the Pirates, Trek Scubel the Tigers.
Speaker 2 (11:24):
That's a Bloomberg Sports update. Stay with us.
Speaker 3 (11:28):
More from Bloomberg Day Break coming up after this.
Speaker 1 (11:35):
Coast to Coast on Bloomberg Radio nationwide on Sirius XM
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 4 (11:46):
Good morning, I'm Nathan Hager. After a divided vote in
the House and a wave of the pen at the
White House, the federal government is back open for business.
President Trump has signed the bill to end the longest
US government shutdown ever at forty three days, but not
without a dig at Democrats.
Speaker 5 (12:02):
The extremists in the other party insisted on creating the
longest government shut down in American history, and they did
it purely for political reason.
Speaker 4 (12:11):
That was President Trump at an Oval Office signing ceremony
heard live on Bloomberg Radio this morning. Were joined by
Tina Fordham, founder of Fordham Global Foresight. Tina, it's great
to have you back with us now that the government
is back open. What did either side gain by keeping
it shut down for so long?
Speaker 2 (12:29):
Good morning, Good morning.
Speaker 15 (12:31):
I'd like to give you a really deeply insightful answer
to that, but I'm really scratching my head on this.
It feels like a delay that resulted in very little
political gain for either side. The political calculus for Democrats
and having held out so long and then reopening an
exchange for seemingly nothing is a great surprise. But there
(12:55):
will be collateral damage from the shutdown, and of course,
of course, you know we're heading straight into the next
crisis on the back of this.
Speaker 4 (13:05):
That crisis I think you're probably alluding to being the
expiration of the.
Speaker 2 (13:10):
Health insurance subsidies. Is that what you're getting at? Well, No, but.
Speaker 15 (13:14):
That is of course a huge importance to the American people,
and it's going to be a major issue for all
members of Congress. I'm thinking about the expiration on the
part of Justice releasing the Epstein files. I think that
is a crisis for the White House.
Speaker 4 (13:33):
Okay, yeah, well let's get into that. Then, as you mentioned,
we had the discharge petition officially signed. Now, of course
we've had ahead of that the release of tens of
thousands of documents, some of which the Democrats have highlighted
showing potentially President Trump's links with Epstein.
Speaker 2 (13:53):
How do you see this playing out?
Speaker 15 (13:55):
It's not the sort of topic that, as a a
geopli strategist I would normally offer a view on, but
I think that it's relevant for three reasons. First of all,
the end of the shutdown means that these files can
be released. It's something that the White House has wanted
(14:17):
to avoid. The collateral damage from the Epstein case is
popping up everywhere in terms of what it means for
the White House agenda. Clearly, this is going to dominate
the news cycle and distract from the White House priorities,
and coming on the back of last week's off year
(14:39):
election results where we started to see evidence of some
pushback on the Trump agenda. In addition to what this
is doing to challenge the president's approval ratings and support
for Republicans as we enter this twelve month period head
of midterms. What really struck me about the petition was
(15:05):
I think this is the first time that some of
the Republican Party faithful in Congress refused to comply with
a direct entreaty from the White House, and that to
me is significant.
Speaker 4 (15:22):
Does that point to a broader split then between the
President and his own base at a time where we've
seen evidence of splits in the Democratic Party as well?
Speaker 2 (15:34):
In terms of how the shutdown was.
Speaker 15 (15:35):
Handled, I think that's where I'm getting to with this.
I mean, we really didn't have enough data points, if
you like, before last week's elections to get a sense
of where the American people were. Of course, we see
the approval ratings being at historic lows, but let's always
remember that Democrats as a party haven't benefited to very
(16:00):
much from that fact. But if Trump starts to lose
the pretty ironclad support that he's had from his party
in Congress, and that is coupled with the American people's
frustration with the cost of living crisis in these other matters,
(16:22):
then that really signals a challenge ahead in the next
twelve months for the White House.
Speaker 4 (16:28):
Yeah, it's interesting at a time when, you know, coming
out of last week's elections where Democrats really seem to
focus on affordability, if the focus does turn to Jeffrey Epstein,
what could that mean politically? Is there a risk that
things could go too far? We have about a minute left.
Speaker 15 (16:46):
In very complex times, I think there's always the risk
that is story like this, which seems easier to understand
than the complexities of inflation and trade, for example, just
takes so it becomes quite a challenge to deal with.
There's also foreign policy angle, which is surprising the emails
(17:07):
released talking about you know, tell the Russian foreign Minister
Sergei Lavrov to talk to me. I can tell you
how to work with Trump. I mean, those kinds of
developments could really widen this challenge for the White House
at a moment when that's the last thing they want
to have happen.
Speaker 3 (17:29):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 4 (17:36):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 3 (17:42):
You can also listen live each morning starting at five
am Wall Street time on Bloomberg eleven three to zero
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Bloomberg ninety two nine in Boston, and nationwide on serious
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Speaker 4 (17:56):
Plus listen coast to coast on the Bloomberg Business app
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Speaker 3 (18:02):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news whenever you want it in five minutes
or less. Search Bloomberg News Now on your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.
Speaker 4 (18:15):
And I'm Nathan Hager. Join us again tomorrow morning. For
all the news you need to start your day right
here on Bloomberg Daybreak
Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2 (00:09):
Good morning.
Speaker 3 (00:10):
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today. Karen, it's over.
Speaker 4 (00:16):
After forty three days, the longest government shut down in
American history has come to an end.
Speaker 2 (00:22):
On this vote. The a's are two hundred and twenty two.
The a's are two oh nine. The bill has passed.
Speaker 4 (00:28):
And after that vote in the House of Representatives, President
Trump signed the bill to reopen the government and put
federal workers back on the job starting today.
Speaker 5 (00:37):
We're sending a clear message that we will never give
in to extortion, because that's what it was. They tried
to extort. The Democrats tried to extort our country.
Speaker 4 (00:46):
The President spoke at an Oval Office signing ceremony heard
live on Bloomberg Radio. The new funding law does not
resolve the expiring health insurance subsidies that Democrats wanted to extend.
Senate Republicans have promised to vote on that next month.
And even though the government is reopening, getting it back
to normal could take a while.
Speaker 2 (01:04):
As we hear from Bloomberg's Steric Wallbank.
Speaker 6 (01:06):
We're going to be waiting for a couple of days
to get federal workers paid. It may take a couple
of days to get airlines fully back to their normal schedules.
We're still waiting to see about these economic indicators that
were delayed or paused during the shutdown. Most of them
are expected to come, but maybe not all of them,
but we're waiting to see when those are going to
(01:28):
get put forward.
Speaker 4 (01:29):
That's Bloomberg's Derek Wallbank. The White House says the October
jobs and consumer price reports might never be released due
to the shutdown. The Bureau of Labor Statistics has not
released a new schedule of data releases. The agency could
combine two months worth of data to get back on
track well.
Speaker 3 (01:45):
Nathan asked for airlines getting back on schedule. That Trump
administration is hoping to bring that in for US smooth
and landing. The Transportation Department and Federal Aviation Administration are
freezing of flight reductions at forty major airports at six percent,
rather than the ten percent previously planned. FAA Administrator Brian
Bedford says air traffic controller staffing is improving rapidly. Doubt
(02:08):
The Airlines CEO ed Bashton tells Bloomberg that things should
keep improving heading into the holidays.
Speaker 4 (02:14):
We know the importance of Christmas and Thanksgiving and the holidays.
That's our super Bowl, and that's what we rehearse and
plan all year long.
Speaker 2 (02:22):
We're going to be in really good shape now.
Speaker 3 (02:24):
The CEO, ed Bashton, spoke to Bloomberg from the floor
of the New York Stock Exchange. Get the full conversation
on the Bloomberg Podcast channel on YouTube. Airlines have canceled
almost ten thousand flights since restrictions were put in place
last week.
Speaker 2 (02:37):
Well, Karen.
Speaker 4 (02:37):
Another major story we're following this morning involves emails released
by Democrats involving convicted sex offender Jeffrey Epstein. Bloomberg's John
Tucker joins us with the very latest, John and Nathan.
Speaker 7 (02:48):
In the newly released emails, Jeffrey Epstein repeatedly discussed Donald
Trump with his co conspirator Gaylaine Maxwell Epstein, writing the
quote dog that hasn't barked as Trump, adding that one
of his victims spent quote hours with Trump at Epstein's home.
California Democratic Congress and Robert Garci is the ranking Democrat
on the House Oversight Committee which released the files.
Speaker 8 (03:10):
This email from Jeffrey Epstein saying that Donald Trump spent
hours with one of the victims, or that he knew
about the girls. I mean, these are things that should
bother us.
Speaker 7 (03:20):
The White House says that House Democrats selectively leaked to emails,
creating a quote fake narrative. White House Press Secretary Caroline.
Speaker 9 (03:28):
Levin this administration has done more with respect to transparency
when it comes to Jeffrey Epstein than any administration ever.
Speaker 7 (03:37):
In another email, Epstein wrote of Trump, of course he
knew about the girls. Epstein was found dead in his
jail sale in twenty nineteen. Both Republicans and Democrats in
Congress have pushed for more information, pitting President Trump against
members of his own party. Representative Thomas Massey of Kentucky,
Lauren Bobart of Colorado, Marjorie Taylor Green of Georgia, and
(03:57):
Nancy Mace of South Carolina have said they will join
with Democrats to force a vote for the DOJ to
release all Epstein files. The emails also revealed that former
US Treasury Secretary Larry Summers wrote to Epstein complaining about
what he characterized as harsh treatment of an unnamed man
who hit on a few women. Somers is a paid
(04:19):
contributor to Bloomberg TV. In the Your Income, John Tucker Bloomberg.
Speaker 3 (04:23):
Radio, All right, John, thank you. We now turn to
a Bloomberg exclusive. Ukraine's President Vladimir Zelenski says his country
survival rests on new funding from allies. The Ukrainian leader
Tom Bloomberg's Oliver Krook, European officials need to overcome their
divisions on the use of frozen Russian assets.
Speaker 10 (04:40):
They understand that we need their support and if I
hope God bless, we will get this decision. But they
will not have this decision. Of course, we together will
find out. We have to find our torment is the
question of all. We're surviving, that's why we need it
very much, and I count on partners.
Speaker 3 (04:58):
And Ukraine's presidents. E went on to say Russia's Vladimir
Putin had waged a deliberate campaign of intimidation against Europe
with recent incursions by drones and fighter jets into NATO airspace.
Speaker 4 (05:09):
Another geopolitical development this morning, Karen Chinese President Shi Jinping
is joining President Trump in skipping this month's G twenty
summit in South Africa. Instead, China will send Premier Lee Chiang.
She's decision means the summit will lack the leaders of
the world's two largest economies, along with fellow member Russia.
Speaker 3 (05:27):
Bloomberg News has learned the European Union is set to
propose a plan to the US NATHAN that would implement
the next phase of the trade agreement the two sides
reached this summer. The deal set of fifteen percent tariff
on most but not all EU goods entering the US.
Sources of the plan would focus on areas including tariffs
and market access standards, digital trade, technical barriers, and cooperation
(05:50):
on steel and aluminum.
Speaker 4 (05:51):
Well back here in the US, Karen futures have moved
mostly lower now following another record close for the Dow
Jones Industrial average. Bloomberg Markets reporter Valerie Titel says the
end of the government shutdown has boosted sentiment.
Speaker 11 (06:03):
This government shutdown coming to an end has been positive
for the equity market.
Speaker 2 (06:08):
Take a look at S.
Speaker 11 (06:08):
And P futures this week, we're essentially on track for
the best week in three months. Gold is up six
percent in the last five sessions, and a lot of
this can be tied to the fact that the Treasury
is going to be resuming their payments, and essentially that
is releasing liquidity back into the economy that had been
built up in treasury cash balances over the last forty
three days.
Speaker 4 (06:28):
That's Bloomberg's Svalary Titel and checking gold. This morning, it's
up another six tenths of one percent, trading at forty
two to thirty seven to ten per ounce.
Speaker 3 (06:35):
Shares of Cisco are higher. They are up more than
six and a half percent this morning. The largest maker
of machines that run computer networks and the Internet gave
an upbeat sales forecast. It's showing progress and its effort
to capture more artificial intelligence spending. Wu Jinho cover Cisco
for Bloomberg Intelligence.
Speaker 5 (06:54):
They're playing both the enterprise side as well as on
the AI data center side. They provide the high speed optics,
but they also provide the chips to help enable scale
cross and scale out AI networking. But they've partnered with Nvidia.
They will be using Nvidia ironically and Vidia chips in
(07:15):
their boxes, so Nvidia has an entry away to the
enterprise where Cisco excels in.
Speaker 3 (07:21):
And Bloomberg Intelligence is Woujen host as Cisco increased its
twenty twenty six forecast, exceeding Wall Street estimates. Cisco now
expects sales of as much as sixty one billion dollars.
Speaker 4 (07:31):
And Karen the earnings continue this morning when the world's
biggest entertainment company reports ahead of the opening bell. Bloomberg's
Tom Busby has more and what to expect from Walt Disney.
Speaker 12 (07:40):
A big concern for Disney subscriber growth at its various
streaming video services like Disney Plus, ESPN Plus and Hulu.
That's after a lot of customers canceled those services when
the company briefly suspended Jimmy Kimmel and over the content
feed dispute it's having right now with YouTube TV, but
with its cash cal theme Parks expected to deliver another
quarter of blowout profits. Bloomberg consensus calls for revenue of
(08:04):
twenty two point eight three billion dollars on adjusted earnings
per share of a dollar seven.
Speaker 2 (08:08):
Tom Busby Bloomberg Radio.
Speaker 3 (08:10):
All right, Tom, thank you. A new line of Cheetos
and Dorrito's won't leave anyone's fingers. Orange PepsiCo is introducing
naked versions of its popular snacks that strip out artificial
does as part of its push to boost healthier options.
The offerings, marketed as simply Naked spelled NKD, do not
have any added colors. PepsiCo says the snacks are designed
(08:33):
to taste the same as the original, but with a
novel appearance that the company is betting will interest consumers.
Time now for a look at some of the other
stories making news in New York and around the world.
And for that we're joined by Bloomberg's Michael Barr. Michael,
good Morning, Good morning, Karen.
Speaker 13 (08:50):
California Governor Gavin Newsom's former chief of staff has been
indicted in a corruption case. Federal prosecutors say Dana Williamson
allegedly inspired to divert about two hundred and twenty five
thousand dollars from a dormant political campaign for an associate's
personal use. Williamson is also accused of claiming more than
(09:10):
a million dollars in business deductions for private use. The
White House is responding after President Trump said that he
was open to using the revenue he claims the US
as collective from tariffs to send Americans a two thousand
dollars check. There are questions as to who would ultimately
receive these checks, and whether there is enough tariff money
(09:32):
to do it. White House Press Secretary of Caroline Lovett.
Speaker 9 (09:35):
We are currently exploring all legal options to get that done.
I don't have a timeline for you or any further details,
but I can confirm for you that the President made
it clear he wants to make it happen, and so
his team of economic advisors are looking into it.
Speaker 13 (09:48):
A federal judge is sent to hear arguments over motions
brought by former FBI Director James Comey and New York
Attorney General Letitia James against the US Attorney for the
Eastern District, Lindsay Halligan, who has indicted both of them.
They claim that Halligan, President Trump's former personal lawyer, was
not properly appointed to her position. A Baltimore police officer
(10:11):
has been indicted. Robert Parks is accused of intentionally driving
his vehicle at a civilian while on duty. Maryland State
Attorney Ivan Bates says Parks now faces chargers including attempted murder.
Speaker 8 (10:23):
If found guilty of all charges, Officer Parks faces a
maximum sentence of sixty five years of incarceration. There is
no maximum penalty for misconduct.
Speaker 2 (10:34):
In office.
Speaker 13 (10:35):
State Attorney Bates says after Parks struck a man in
a grassy area, he allegedly tried to hit the man
two more times with his car. Global News twenty four
hours a day and whenever you want it with the
Bloomberg News Now Michael Barr and this is Bloomberg Karen.
Thanks Michael.
Speaker 3 (10:50):
A time now for our Bloomberg Sports Update, and for
that we bring in John stash.
Speaker 14 (10:55):
Hour as Darren NBA Stars with Big Games, denvers Na
Kola Joki. It's fifty point does the Nuggets beat the
Clippers and in Golden States win at San Antonio. Steph
Curry went for forty six. Oklahoma City defended NBA champs
are now twelve and one this year. Thunder up by
thirty two at halftime in a blowout win over the Lakers.
Jetson Patriots played tonight in New England. The Patriots have
(11:18):
won seven in a row. Cy Young Award winners Paul
Skeins of the Pirates, Trek Scubel the Tigers.
Speaker 2 (11:24):
That's a Bloomberg Sports update. Stay with us.
Speaker 3 (11:28):
More from Bloomberg Day Break coming up after this.
Speaker 1 (11:35):
Coast to Coast on Bloomberg Radio nationwide on Sirius XM
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 4 (11:46):
Good morning, I'm Nathan Hager. After a divided vote in
the House and a wave of the pen at the
White House, the federal government is back open for business.
President Trump has signed the bill to end the longest
US government shutdown ever at forty three days, but not
without a dig at Democrats.
Speaker 5 (12:02):
The extremists in the other party insisted on creating the
longest government shut down in American history, and they did
it purely for political reason.
Speaker 4 (12:11):
That was President Trump at an Oval Office signing ceremony
heard live on Bloomberg Radio this morning. Were joined by
Tina Fordham, founder of Fordham Global Foresight. Tina, it's great
to have you back with us now that the government
is back open. What did either side gain by keeping
it shut down for so long?
Speaker 2 (12:29):
Good morning, Good morning.
Speaker 15 (12:31):
I'd like to give you a really deeply insightful answer
to that, but I'm really scratching my head on this.
It feels like a delay that resulted in very little
political gain for either side. The political calculus for Democrats
and having held out so long and then reopening an
exchange for seemingly nothing is a great surprise. But there
(12:55):
will be collateral damage from the shutdown, and of course,
of course, you know we're heading straight into the next
crisis on the back of this.
Speaker 4 (13:05):
That crisis I think you're probably alluding to being the
expiration of the.
Speaker 2 (13:10):
Health insurance subsidies. Is that what you're getting at? Well, No, but.
Speaker 15 (13:14):
That is of course a huge importance to the American people,
and it's going to be a major issue for all
members of Congress. I'm thinking about the expiration on the
part of Justice releasing the Epstein files. I think that
is a crisis for the White House.
Speaker 4 (13:33):
Okay, yeah, well let's get into that. Then, as you mentioned,
we had the discharge petition officially signed. Now, of course
we've had ahead of that the release of tens of
thousands of documents, some of which the Democrats have highlighted
showing potentially President Trump's links with Epstein.
Speaker 2 (13:53):
How do you see this playing out?
Speaker 15 (13:55):
It's not the sort of topic that, as a a
geopli strategist I would normally offer a view on, but
I think that it's relevant for three reasons. First of all,
the end of the shutdown means that these files can
be released. It's something that the White House has wanted
(14:17):
to avoid. The collateral damage from the Epstein case is
popping up everywhere in terms of what it means for
the White House agenda. Clearly, this is going to dominate
the news cycle and distract from the White House priorities,
and coming on the back of last week's off year
(14:39):
election results where we started to see evidence of some
pushback on the Trump agenda. In addition to what this
is doing to challenge the president's approval ratings and support
for Republicans as we enter this twelve month period head
of midterms. What really struck me about the petition was
(15:05):
I think this is the first time that some of
the Republican Party faithful in Congress refused to comply with
a direct entreaty from the White House, and that to
me is significant.
Speaker 4 (15:22):
Does that point to a broader split then between the
President and his own base at a time where we've
seen evidence of splits in the Democratic Party as well?
Speaker 2 (15:34):
In terms of how the shutdown was.
Speaker 15 (15:35):
Handled, I think that's where I'm getting to with this.
I mean, we really didn't have enough data points, if
you like, before last week's elections to get a sense
of where the American people were. Of course, we see
the approval ratings being at historic lows, but let's always
remember that Democrats as a party haven't benefited to very
(16:00):
much from that fact. But if Trump starts to lose
the pretty ironclad support that he's had from his party
in Congress, and that is coupled with the American people's
frustration with the cost of living crisis in these other matters,
(16:22):
then that really signals a challenge ahead in the next
twelve months for the White House.
Speaker 4 (16:28):
Yeah, it's interesting at a time when, you know, coming
out of last week's elections where Democrats really seem to
focus on affordability, if the focus does turn to Jeffrey Epstein,
what could that mean politically? Is there a risk that
things could go too far? We have about a minute left.
Speaker 15 (16:46):
In very complex times, I think there's always the risk
that is story like this, which seems easier to understand
than the complexities of inflation and trade, for example, just
takes so it becomes quite a challenge to deal with.
There's also foreign policy angle, which is surprising the emails
(17:07):
released talking about you know, tell the Russian foreign Minister
Sergei Lavrov to talk to me. I can tell you
how to work with Trump. I mean, those kinds of
developments could really widen this challenge for the White House
at a moment when that's the last thing they want
to have happen.
Speaker 3 (17:29):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 4 (17:36):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 3 (17:42):
You can also listen live each morning starting at five
am Wall Street time on Bloomberg eleven three to zero
in New York, Bloomberg in ninety nine to one in Washington,
Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.
Speaker 4 (17:56):
Plus listen coast to coast on the Bloomberg Business app
now with Apple CarPlay and Android Atto interfaces.
Speaker 3 (18:02):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news whenever you want it in five minutes
or less. Search Bloomberg News Now on your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.
Speaker 4 (18:15):
And I'm Nathan Hager. Join us again tomorrow morning. For
all the news you need to start your day right
here on Bloomberg Daybreak
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