September 5, 2025 • 5 mins
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Speaker 1 (00:00):
News when you want it with Bloomberg News Now, I'm
in Kleggy. President Trump says that he saw White House
Economic Advisor Kevin Hassett, Federal Reserve Governor Christopher Waller, and
former Fed Governor Kevin Walsh as the finalist. Says he
chooses a replacement for the Central Bank's chair Jerome Powell. Earlier,
Trump indicated that while he had some idea of who
(00:21):
he wanted for the position, he was committed to an
interview process. Treasury Secretary Scott Besson, who was thought to
be a contender for the job before removing himself from contention,
is organizing the search and reiterated Friday that he was
not interested in the position. New York City Mayor Eric
Adams says he will stay in the race for a
second term, accusing his opponent Andrew Cuomo of trying to
(00:42):
push him out of the race.
Speaker 2 (00:43):
Andrew Cuomo is a snake in a liar. I am
in this race and I'm the only one that can
beat Mandnad.
Speaker 1 (00:53):
Adams then denied reports he was headed to Washington Monday
to consider a job in the Trump administration.
Speaker 2 (00:58):
There's a lot of reports, but I'm in Washington on Monday.
Those reports are wrong.
Speaker 3 (01:03):
I'm not.
Speaker 2 (01:04):
I'll be moving throughout this city in the five boroughs
that made me mayor in the first place. I'm running
for reelection and I'm going to tell New Yorkers every
day why I believe I should be the mayor of
the City of New York in twenty twenty six.
Speaker 1 (01:22):
The decision comes a day after President Trump told reporters
that he'd like to see two candidates dropping the crowded
November election in order to improve the chances of defeating
Democratic socialist So Run Mom. Donnie, the Queen's Assemblyman, has
rattled political and business leaders with his progressive agenda and
his favorite to win Ken Views shares fell after The
Wall Street Journal reported that Health and Human Services Secretary
(01:44):
Robert F. Kennedy Junior is likely to link the company's
tailand Oal painkiller to autism, though the agency said the
news report was speculation. The federal government is expected to
release its findings on autism this month. The Journals, citing
people familiar with the matter, reported Friday that it is
likely to say that use of the over the counter
pain medication with asidamtaphin, which is the active ingredient in
(02:07):
thi litol may cause autism. President Trump moved Friday to
exempt graphite, tungsten, uranium, gold, bullion, and other metals from
his country based tariffs, while subjecting silicone products to the levees.
The changes are set to take effect on Monday under
an executive order issued Friday. Trump's directives could also speed
implementation of bespoke trade deals between the US and other countries,
(02:30):
making it easier for Washington to lift tariffs on aircraft parts,
generic pharmaceuticals, and certain products that can't be grown, mined,
or naturally produced domestically, such as specialty spices and coffee,
as well as obscure metals. Immigration authority said Friday they
detained four hundred and seventy five people, most of them
South Korean nationals, when hundreds of federal agents rated the
(02:52):
sprawling manufacturing site in Georgia where Korean automaker Hondai makes
electric vehicles. Stephen Schrenk, the lead Georgia agent of Homeland
Security Investigation, said during a news conference on Friday that
the raid resulted from a months long investigation into allegations
of illegal hiring at the site and was the largest
single site enforcement operation in the agency's two decade history.
(03:15):
Down Friday for the S and P five hundred index,
but it was an up week. We get more from
Bloomberg's Charlie Pellett.
Speaker 4 (03:20):
For the week, the S and P five hundred index
was up point three percent. Strong evidence the US labor
market is slowing rippled through Wall Street, driving stock's lower
and bonds hire on concern the Fed will now have
to rush to prevent further weakness. The S and P
five hundred declined Friday amid warries that the Fed is
behind the curve on preventing jobs weakening at a time
(03:42):
when inflation continues to show signs of stickiness. For the week,
Nasdaq was up one point one percent, while the Dow
was down point three percent in New York Charlie Pellett
Bloomberg Radio.
Speaker 1 (03:55):
President Trump signed an executive order Friday aiming to rebrand
the Department of Defense and since the Department of War
along telegraph move aimed at projecting American military toughness around
the globe.
Speaker 3 (04:06):
We've been talking about this Department of War. So we
won the First World War, we won the Second World War,
we won everything before that, and in between and then
we decided to go, wo, can we change the name
to Department of Defense? So we're going Department of War.
Speaker 1 (04:21):
The order comes at some of Trump's closest supporters on
Capitol Hill proposed legislation that would codify the new name
into law, with Congress having the sole power to establish, shutter,
and rename federal departments apps. In a change in law,
Trump will authorized the Pentagon to use secondary titles. Robinhood
Markets has been added to the S and P five hundred,
marking a new phase for the retail trading platform that
(04:43):
helped define the pandemic Ara boom in individual investing. The
company will join the benchmark in the latest quarterly rebalance.
App Lovin and mcore Group will also be added to
the index. The three companies will replace Market Access Holdings,
Caesar's Entertainments, and M Phase Energy. Prior to the start
of treading on September twenty second, the Friday numbers on
(05:05):
Wall Street the DAL fell two twenty, nas DAK dropped seven,
the SMP lost twenty. The ten year treasurer yield four
point zero seven percent, the two year yield three point
five one percent. That's news when you want it. With
Bloomberg News. Now I made Kleggy. This is Bloomberg
News when you want it with Bloomberg News Now, I'm
in Kleggy. President Trump says that he saw White House
Economic Advisor Kevin Hassett, Federal Reserve Governor Christopher Waller, and
former Fed Governor Kevin Walsh as the finalist. Says he
chooses a replacement for the Central Bank's chair Jerome Powell. Earlier,
Trump indicated that while he had some idea of who
(00:21):
he wanted for the position, he was committed to an
interview process. Treasury Secretary Scott Besson, who was thought to
be a contender for the job before removing himself from contention,
is organizing the search and reiterated Friday that he was
not interested in the position. New York City Mayor Eric
Adams says he will stay in the race for a
second term, accusing his opponent Andrew Cuomo of trying to
(00:42):
push him out of the race.
Speaker 2 (00:43):
Andrew Cuomo is a snake in a liar. I am
in this race and I'm the only one that can
beat Mandnad.
Speaker 1 (00:53):
Adams then denied reports he was headed to Washington Monday
to consider a job in the Trump administration.
Speaker 2 (00:58):
There's a lot of reports, but I'm in Washington on Monday.
Those reports are wrong.
Speaker 3 (01:03):
I'm not.
Speaker 2 (01:04):
I'll be moving throughout this city in the five boroughs
that made me mayor in the first place. I'm running
for reelection and I'm going to tell New Yorkers every
day why I believe I should be the mayor of
the City of New York in twenty twenty six.
Speaker 1 (01:22):
The decision comes a day after President Trump told reporters
that he'd like to see two candidates dropping the crowded
November election in order to improve the chances of defeating
Democratic socialist So Run Mom. Donnie, the Queen's Assemblyman, has
rattled political and business leaders with his progressive agenda and
his favorite to win Ken Views shares fell after The
Wall Street Journal reported that Health and Human Services Secretary
(01:44):
Robert F. Kennedy Junior is likely to link the company's
tailand Oal painkiller to autism, though the agency said the
news report was speculation. The federal government is expected to
release its findings on autism this month. The Journals, citing
people familiar with the matter, reported Friday that it is
likely to say that use of the over the counter
pain medication with asidamtaphin, which is the active ingredient in
(02:07):
thi litol may cause autism. President Trump moved Friday to
exempt graphite, tungsten, uranium, gold, bullion, and other metals from
his country based tariffs, while subjecting silicone products to the levees.
The changes are set to take effect on Monday under
an executive order issued Friday. Trump's directives could also speed
implementation of bespoke trade deals between the US and other countries,
(02:30):
making it easier for Washington to lift tariffs on aircraft parts,
generic pharmaceuticals, and certain products that can't be grown, mined,
or naturally produced domestically, such as specialty spices and coffee,
as well as obscure metals. Immigration authority said Friday they
detained four hundred and seventy five people, most of them
South Korean nationals, when hundreds of federal agents rated the
(02:52):
sprawling manufacturing site in Georgia where Korean automaker Hondai makes
electric vehicles. Stephen Schrenk, the lead Georgia agent of Homeland
Security Investigation, said during a news conference on Friday that
the raid resulted from a months long investigation into allegations
of illegal hiring at the site and was the largest
single site enforcement operation in the agency's two decade history.
(03:15):
Down Friday for the S and P five hundred index,
but it was an up week. We get more from
Bloomberg's Charlie Pellett.
Speaker 4 (03:20):
For the week, the S and P five hundred index
was up point three percent. Strong evidence the US labor
market is slowing rippled through Wall Street, driving stock's lower
and bonds hire on concern the Fed will now have
to rush to prevent further weakness. The S and P
five hundred declined Friday amid warries that the Fed is
behind the curve on preventing jobs weakening at a time
(03:42):
when inflation continues to show signs of stickiness. For the week,
Nasdaq was up one point one percent, while the Dow
was down point three percent in New York Charlie Pellett
Bloomberg Radio.
Speaker 1 (03:55):
President Trump signed an executive order Friday aiming to rebrand
the Department of Defense and since the Department of War
along telegraph move aimed at projecting American military toughness around
the globe.
Speaker 3 (04:06):
We've been talking about this Department of War. So we
won the First World War, we won the Second World War,
we won everything before that, and in between and then
we decided to go, wo, can we change the name
to Department of Defense? So we're going Department of War.
Speaker 1 (04:21):
The order comes at some of Trump's closest supporters on
Capitol Hill proposed legislation that would codify the new name
into law, with Congress having the sole power to establish, shutter,
and rename federal departments apps. In a change in law,
Trump will authorized the Pentagon to use secondary titles. Robinhood
Markets has been added to the S and P five hundred,
marking a new phase for the retail trading platform that
(04:43):
helped define the pandemic Ara boom in individual investing. The
company will join the benchmark in the latest quarterly rebalance.
App Lovin and mcore Group will also be added to
the index. The three companies will replace Market Access Holdings,
Caesar's Entertainments, and M Phase Energy. Prior to the start
of treading on September twenty second, the Friday numbers on
(05:05):
Wall Street the DAL fell two twenty, nas DAK dropped seven,
the SMP lost twenty. The ten year treasurer yield four
point zero seven percent, the two year yield three point
five one percent. That's news when you want it. With
Bloomberg News. Now I made Kleggy. This is Bloomberg
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