October 31, 2025: Judges Order Trump to Pay SNAP, Huang Completes Share Sale, More

Listen for the latest from Bloomberg News

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:00):
News when you want it with Bloomberg News Now, I
made Kalki. Two federal judges have ruled the Trump administration's
decision to suspend food aid benefits for tens of millions
of Americans during the government shutdown is likely unlawful and
that US officials must use contingency funding to at least
partially keep the program operational. US District Judge John McConnell

(00:24):
in Rhode Island Friday announced in court that he would
order the Department of Agriculture to distribute a pool of
contingency money as soon as possible for November benefits. He
also urged the administration to explore tapping other sources of
federal dollars to ensure the program is fully funded. Minutes earlier,
in Boston, U S District Judge Indira Talawani issued a

(00:47):
written ruling that rejected the administration's stance that it is
legally barred from tapping into billions of dollars in alternative
funding sources to keep the program running during the budget
impass In Congress, House Minority Leader Jakim Jeffries on CNN,
We're thankful.

Speaker 2 (01:02):
For these rulings. The law is very clear funds do
exist within the administration for exactly this reason, a contingency
fund to make sure that no one in America, the
wealthiest country in the history of the world, ever goes hungry.

Speaker 1 (01:19):
Jeffries tells CNN that they have always been ready to
negotiate with Republicans. Nvidia chief executive officer Jensen Wong has
sold more than one billion dollars worth of the chip
maker's share since June, completing a massive pre planned stock sale.
The final sale of twenty five thousand shares reported Friday,
wrapped up an arrangement adopted by Wang in March to

(01:41):
unload as many as six million shares by year end.
The stock was worth about eight hundred and sixty five
million when he started selling in late June, but has
climbed over forty percent since then. Amid unquenchable demand for
artificial intelligence processors. US air traveler is beginning to show
signs of strain as the government shut down drags on,
with traffic controllers shortages snarling thousands of flights into the weekend.

(02:05):
Flights into New York's JFK Airport were temporarily halted Friday
afternoon due to staff and constraints. The FAA also paused
flights from Washington area airports into LaGuardia Airport beginning just
after four thirty pm local time. Traffic was slowed at
other airports throughout the day, including Newark, Liberty, Ronald Reagan

(02:25):
in Washington, Boston, Logan International Airport, and in Austin, Houston, Nashville,
and the Dallas Fort Worth area. President Trump denied that
he is considering strikes on Venezuela, contradicting an earlier media report.

Speaker 3 (02:39):
Media reports earlier indicated President Trump had signed off on
strikes inside Venezuela, including military targets, as part of the
Trump administration's counter narcotic campaign, but when asked about it
by reporters on Air Force One, the President said no.
There reports that you are considering strikes within Venezuela. Is
that screw no Iman decision on.

Speaker 1 (02:59):
That, no, etc.

Speaker 3 (03:00):
Meanwhile, venezuel As president is reportedly reaching out to Moscow
and Beijing for help. The Washington Post reports President Nicholas
Maduro is looking for quote expanded military cooperation in the
form of missiles, radar and aircraft from China, Russia and Iran.
In Washington, Amy Morris Bloomberg Radio.

Speaker 1 (03:19):
Democratic lawmakers on the House's top Oversight Committee called upon
the panel's Republican chair to authorize a series of subpoenas
to nearly two dozen major banks about any accounts they
held for disgraced financier Jeffrey Epstein. Their request came on
Freddy in response to a report by Bloomberg News that
cited the convicted sex offender's private emails to show that

(03:40):
he was investigated for money laundering, a probe that was
dropped roughly seventeen years ago. In a letter sent to
James Comer, the chairman of the House Oversigning Government Reform Committee,
Representative Robert Garcia, the panel's ranking member, and his twenty
Democratic colleagues, said the new details about the financial crimes
probe warranted further scrutiny of the banks and any dealings

(04:03):
they had with Epstein. Wall Street closes the books in October,
and it's on to the trading month of November. More
on the markets from Bloomberg's Charlie Pellett.

Speaker 4 (04:11):
For the month of October, the S and P five
hundred and dex gain two point three percent, notching its
six straight month of advances. Emily Rowland is co Chief
Investment Satategistic Manual Life Investment Management.

Speaker 3 (04:25):
It seems like nothing can stop this market, and you
just don't want to get in the way of it.
It's also a market that's been driven by technicals momentum sentiment.

Speaker 4 (04:34):
Since the April meltdown, the S and P five hundred
has soared almost forty percent. This week, the SMP and
Dow were a point seven percent, while Nestak was up
two point two percent. In New York, Charlie Pellett Bloomberg Radio.

Speaker 1 (04:49):
Game six of the World Series in Toronto. The Dodgers
defeated the Blue Jays three to one to force a
deciding game seven Saturday night. The Friday number is on
Wall Street. The Dow gain forty, NaSTA was up one
forty three, the SNP added seventeen. The ten year treasurer
yield is at four point zero eight percent, the two
year at three point five eight percent. That's news when

(05:10):
you want it with Bloomberg News. Now I made Kleggy.

Speaker 3 (05:13):
This is Bloomberger