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Speaker 1: Good morning, I'm Nathan.
Speaker 2: Hager and I'm Karen Moscow. Here are the stories we're
Speaker 2: following today.
Speaker 1: Let's get you caught up on what's happening in the
Speaker 1: Middle East. The focus is turning to hospitals in Gaza,
Speaker 1: where Israel accuses Hamas of housing command centers and weapons.
Speaker 1: President Biden says the Alshifa Hospital in Gaza City must
Speaker 1: be protected.
Speaker 3: I have not been reluctant and especially my concerns going
Speaker 3: on and is my hope and expectation that there will
Speaker 3: be less intrusive action role through hospital.
Speaker 1: President Biden's concern about civilian casualties is being answered by
Speaker 1: Israel's Economy Minister Near Barkat, do.
Speaker 4: You understand that we have to wipe isis Comeaus off
Speaker 4: the map and we will do it with minimal collateral damage.
Speaker 4: This is our values. We don't need to be told
Speaker 4: that we know that ourselves.
Speaker 1: Israelly Economy Minister Near Barcott spoke on Bloomberg Business Week.
Speaker 1: You can hear more of his comments on the BusinessWeek podcast.
Speaker 1: Download it wherever you get your podcasts.
Speaker 5: Well, Nathan.
Speaker 2: As the war goes on, tens of thousands of Israel
Speaker 2: supporters are gathering in Washington, d C. To show their solidarity.
Speaker 2: On Bloomberg's Amy Moore, supports from the nation's capital.
Speaker 6: Organizers are expecting up to one hundred thousand people to
Speaker 6: attend today's event on the National Mall Capitol Hill. Security
Speaker 6: will be boosted, access to the capital will be restricted.
Speaker 6: Roads are being closed. DC police have requested assistance from
Speaker 6: the National Guard and the Department and If Homeland Security
Speaker 6: has designated the march a Level one security event that's
Speaker 6: the highest rating of risk assessment. The FBI says there's
Speaker 6: no specific threat, but there is fear of loan actors
Speaker 6: attacking pro Israel demonstrators coming to DC. The event begins
Speaker 6: at one this afternoon on the National Mall in Washington.
Speaker 6: I maye more is Bloomberg Radio.
Speaker 1: Oka, Amie, thank you staying in Washington. This could be
Speaker 1: a critical twenty four hours in Congress's attempt to keep
Speaker 1: the government funded. Bloomberg Zed. Baxter has the story.
Speaker 7: House Speaker Mike Johnson says he'll bring the bill to
Speaker 7: the House floor in spite of negative reaction from the
Speaker 7: right wing of his party, who wanted spending cuts included.
Speaker 7: Senate Majority Leader Chuck Schumer has opened the door to
Speaker 7: a settlement for now.
Speaker 8: I am pleased that Speaker Johnson seems to be moving
Speaker 8: in our direction by advancing a cr that does not
Speaker 8: include the highly partisan cuts the Democrats have warned against.
Speaker 7: And President Biden also has often saying he'll wait to
Speaker 7: see The deadline is Friday midnight, add Baxter, Bloomberg Radio.
Speaker 2: All right, and thank you well. We turned to the
Speaker 2: economy now, and we get the first of two big
Speaker 2: readings on inflation this morning. With the consumer price index
Speaker 2: for October. Economists say inflation probably ease to an annual
Speaker 2: rate of three point three percent, and we get a
Speaker 2: preview from Bloomberg's crety GUPDA.
Speaker 9: There are some varied estimates here, but I think the
Speaker 9: takeaway is simply that some of the disinflation, the progress
Speaker 9: essentially that has been happening in the US economy when
Speaker 9: it comes to inflation, is going to slow down. So
Speaker 9: it's not that it's going to increase, but it's also
Speaker 9: not going to be making as much downward progress as
Speaker 9: we expect, at least has to take out of Bloomberg Economics,
Speaker 9: and I think that's the concern here for a lot
Speaker 9: of the people who are pricing in a more dubvish
Speaker 9: Federal Reserve, which is simply that this is going to
Speaker 9: be the key data point that suggests the Federal Reserve
Speaker 9: is not done hiking at all. You heard Chairman Powell
Speaker 9: last week hint at that and kind of say, well,
Speaker 9: we're going to be as hawkish as we need to be.
Speaker 9: This is the data point that might back that up.
Speaker 2: And Bloomberg's CRETTY group disays today's inflation data is not
Speaker 2: likely to shift traders views on the fits December meeting.
Speaker 1: Days after the US was threatened with the loss of
Speaker 1: its last top credit rating from Moody's the Treasury Secretary
Speaker 1: is firing back. Janet Yellen spoke in San Francisco yesterday.
Speaker 10: This is a decision that I disagree with. The American
Speaker 10: economy is fundamentally strong, and Treasury securities remain the world's
Speaker 10: pre eminent safe and liquid.
Speaker 1: ASCID Secretary Yellen's in San Francisco for meetings with finance
Speaker 1: ministers from across the Pacific, Rim Nathan.
Speaker 2: The big meeting from the Asia Pacific Economic Cooperation Summit
Speaker 2: comes tomorrow, when President Biden speaks with this Chinese counterpart,
Speaker 2: seson Ping. Bloomberg News has learned the two leaders will
Speaker 2: announce an agreement that could see Beijing crackdown on the
Speaker 2: manufacturer and export of fentanyl. We spoke about the opioid
Speaker 2: crisis with San Francisco Mayor London.
Speaker 11: Breed resources that are being sent out of China that
Speaker 11: come into either the US or Mexico are cut off
Speaker 11: to the fullest extent possible. That we work together in
Speaker 11: order to ensure that this deadly poison that is killing
Speaker 11: people in San Francisco in significant numbers and all over
Speaker 11: the country, that we're able to combat this to stop it.
Speaker 2: San Francisco Mayor London Breed says fentanyl has devastated her
Speaker 2: city like no other drug in her lifetime.
Speaker 1: Let's turn to some corporate news now, Karen, we have
Speaker 1: a takeover in the commodities industry. Switzerland's Glencore has agreed
Speaker 1: to buy a majority stake in Canada's tech resources coal
Speaker 1: business for more than six point nine billion dollars. The
Speaker 1: d ns a month's long saga and sets the stage
Speaker 1: for glen Core to spin off its own coal unit.
Speaker 2: Well, Nathan, a big week for retail earnings kicks off
Speaker 2: with Home Depot. We're reporting this morning, and we get
Speaker 2: a preview with the Bloomberg's Tom Busby.
Speaker 5: Home Depot forecast report a fourth straight quarterly decline at
Speaker 5: same store sales as the one to two punch of
Speaker 5: surging mortgage rates and record high home prices caused a
Speaker 5: slump in US home sales, putting it in to the
Speaker 5: home improvement boom we saw during the pandemic. Bloomberg consensus
Speaker 5: calls for comp sales to fall three point three one percent,
Speaker 5: of the decline in the US three point six seven percent. Still,
Speaker 5: net sales expected to be thirty seven point seven billion dollars,
Speaker 5: So just at earnings per share of three dollars seventy
Speaker 5: six cents. Tom busby Bloomberg Radio, All right, Tom, thanks
Speaker 5: back to commodities.
Speaker 1: The International Energy Agency says global oil markets won't be
Speaker 1: as tight as expected this quarter. IEA says sea supply
Speaker 1: tipping back into a surplus in the first half of
Speaker 1: twenty twenty four. Sorry, Nathan.
Speaker 8: Thanks.
Speaker 2: It's time now for a look at some of the
Speaker 2: o their stories making news around the world, and for
Speaker 2: that we're joined again by Bloombery sa Amy Morris Samy,
Speaker 2: Good morning, Good.
Speaker 6: Morning, Karen. There is growing concern about a possible government
Speaker 6: shutdown later this week, but that could also spell chaos
Speaker 6: for millions of Americans planning to travel during the holiday season.
Speaker 6: Without a deal in Congress by this Friday night, air
Speaker 6: traffic controllers and TSA workers could be forced to work
Speaker 6: without pay. And this is expected to be a record
Speaker 6: travel season. David Cymour, as chief operating officer with American Airlines,
Speaker 6: We're going to.
Speaker 1: Carry more customer than we ever have before, about a
Speaker 1: half a million more than last year.
Speaker 6: And House Speaker Mike Johnson has submitted a stopgap measure,
Speaker 6: but that doesn't include any money for Israel. Or Ukraine,
Speaker 6: and it doesn't have spending cuts that a lot of
Speaker 6: Republicans want. The US Supreme Court has adopted a new
Speaker 6: code of conduct, the first in the Court's history. Loyola
Speaker 6: Law School professor and former federal prosecutor Laurie Levinson says
Speaker 6: the adoption of the code itself is significant.
Speaker 12: There has been a great deal a criticism of the
Speaker 12: Supreme Court. Much of it has been focused on Justice
Speaker 12: Thomas and Justice Alito because they received gifts, they haven't
Speaker 12: made full disclosure of travel and other types of benefits,
Speaker 12: and so now we have a clear standard.
Speaker 6: But critics call the code itself toothless because it doesn't
Speaker 6: include a mechanism for enforcement. A former attorney for Donald
Speaker 6: Trump has testified against the former president and the Georgia
Speaker 6: election interference case. Jenna Ellis recounted a conversation with Dan Scavino,
Speaker 6: who served as Trump's deputy chief of staff. Video recording
Speaker 6: of that testimony was obtained by The Washington Post.
Speaker 13: He said, well, the Boss, meaning President Trump, and everyone
Speaker 13: understood the Boss, That's what we all called him. He said,
Speaker 13: the Boss is not going to leave under any circumstances.
Speaker 13: We are just going to stay in power.
Speaker 6: Trump's lead counsel in the Fulton County case says Ellis's
Speaker 6: testimony is absolutely meaningless. Ellis is one of four co
Speaker 6: defendants to plead guilty in that case out of eighteen people,
Speaker 6: and died it Alongside Donald Trump, the president of the
Speaker 6: United Auto Workers Union is headlining a hearing on Capitol
Speaker 6: Hill to talk about the resurgence of unions. UAW president
Speaker 6: Sean Faine, along with Teamster's president Sean O'Brien and Flight
Speaker 6: Attendance Union president Sarah Nelson, will provide testimony before the
Speaker 6: Senate Labor Committee on the role of unions in the
Speaker 6: lives of working families. Global news twenty four hours a
Speaker 6: day and whenever you want it with Bloomberg News Now,
Speaker 6: I may Mee Morris in this is Bloomberg Karen.
Speaker 2: Sor right, Amy, thank you, Alby do bring you news
Speaker 2: throughout the day right here on Bloomberg Radio. But as
Speaker 2: Amy said, you can get the latest news now on
Speaker 2: demand when you wanted. Subscribe to Bloomberg News Now to
Speaker 2: get the latest headlines it the click of a button.
Speaker 2: Get informed on your schedule. You can listen and subscribe
Speaker 2: to Bloomberg News Now on the Bloomberg Business app, Bloomberg
Speaker 2: dot Com plus apples, Spotify, and anywhere else you get
Speaker 2: your podcasts. Time now for the Bloomberg Sports Update with
Speaker 2: John stash Hour John Karen.
Speaker 14: On Sunday, four NFL games were one on a field
Speaker 14: goal on the final flight, and happened again last night
Speaker 14: in Buffalo. Denver's Will loves kick the thirty six yard
Speaker 14: field goal the Broncos upset the Bills twenty four to
Speaker 14: twenty two. Lutz had missed a forty one yarder, but
Speaker 14: the Bills got called for twelve men on the field
Speaker 14: and he got a second chance to win the game
Speaker 14: for Denver, who has suddenly won three games in a
Speaker 14: row after starting the season one and five. It's been
Speaker 14: a disappointing year for the Bills, four time defending AFC
Speaker 14: East champions, and they are right now just five and five.
Speaker 14: The Celtics are eight and two. They're five and zero
Speaker 14: at home. They beat the Knicks thirteen to ninety eight.
Speaker 14: Jason Tatum led the way with thirty five points. Jalen
Speaker 14: Brown had twenty two. Christophs Pazinga scored twenty one. The
Speaker 14: Wizards are just two and eight. Kyle Kuzma keeps scoring points.
Speaker 14: He had thirty four, but Prosco Siaka went for thirty
Speaker 14: nine in Toronto and the Raptors won one to eleven
Speaker 14: to one oh seven unanimous winners for the Baseball Rookies
Speaker 14: of the Year, the first of the postseason awards to
Speaker 14: go out as expected. Arizona outfielder Corbin Carroll got every
Speaker 14: vote in the National League after season where he hit
Speaker 14: twenty five home runs and sole fifty four bases, and
Speaker 14: Baltimore short stoff Gunner Henderson won unanimously in the American League.
Speaker 14: He hit twenty eight home.
Speaker 1: Runs and scored one hundred runs.
Speaker 14: Michael Malong got his contract extension in Denver. He coached
Speaker 14: the Nuggets to the NBA championship last year. Terms not known.
Speaker 14: He's been the Nuggets coach in twenty fifteen. John Stashedward Bloomberg.
Speaker 15: Sports from coast to coast, from New York to San Francisco,
Speaker 15: Boston to Washington, DC, nationwide on Sirius, Exam, the Bloomberg
Speaker 15: Business app, and Bloomberg dot Com. This is Bloomberg Daybreak.
Speaker 15: Good morning, I'm Nathan Hager.
Speaker 1: Israel's war with Humas now appears to be centering on
Speaker 1: hospitals in Gaza, where the Palestinian militant group is accused
Speaker 1: of housing command centers and weapons. President Biden is saying
Speaker 1: the main hospital in Gaza City, Alshifa, must be protected
Speaker 1: as Israel intensifies its ground campaign. For the latest, we're
Speaker 1: joined now by Bloomberg's Oliver crook Oli. Good morning, get
Speaker 1: us up to speed on the situation in a northern Gaza,
Speaker 1: particularly around these hospitals that do now appear to be
Speaker 1: the center of attention.
Speaker 16: Yeah, so Nathan completely in the center of attention, and
Speaker 16: the ground offensive is still just raise it raging on
Speaker 16: in the northern part of Gaza, really cementing their positions
Speaker 16: around Gaza City and entering Gaza City. As we've seen,
Speaker 16: we've also heard that a great number of people have
Speaker 16: fled over the last ten days. The UN says that
Speaker 16: more than two hundred thousand people have moved south. That
Speaker 16: brings the total of almost two thirds of Gaza's a
Speaker 16: population of two point three million people that have fled
Speaker 16: their homes. The Defense Minister of Israel says that Hamas
Speaker 16: has lost control of Gaza at this stage. But really,
Speaker 16: as you say, the focus is on these hospitals and
Speaker 16: really beginning to test the limits of where the limit
Speaker 16: of self defense is, which has been really a question,
Speaker 16: I think for everybody since the beginning of this conflict,
Speaker 16: and everyone has a different answer to that. But we're
Speaker 16: starting to see that progress a little bit, particularly with
Speaker 16: the United States, which as we know, is a key
Speaker 16: ally for Israel in this battle.
Speaker 1: No, we did speak to Israel's economy minister Near Barkat
Speaker 1: on Bloomberg Radio and he seemed to echo a lot
Speaker 1: of the determination we're hearing from the Israeli government to
Speaker 1: destroy Hamas. It does make you wonder what those limits are.
Speaker 7: Lallie.
Speaker 16: I think it's a good question, and it's going to
Speaker 16: be in determined I suspect in part by what the
Speaker 16: United States says and how they say it. Right, So
Speaker 16: we're talking about a death toll. This is according to
Speaker 16: the Palestinian authorities, of more than eleven thousand people in Gaza, right,
Speaker 16: and two thirds allegedly are going our women and children.
Speaker 16: This is an absolutely huge figure of people and many
Speaker 16: of the allies of Israel. You know, you heard it
Speaker 16: from President mac Hole on Friday, who himself called for
Speaker 16: a ceasefire. And now You're starting to hear Joe Biden
Speaker 16: talk about restraint, Blincoln himself saying that too many Palestinians
Speaker 16: have been killed, Sullivan saying no firefights and hospitals, And
Speaker 16: we know that it is that sort of the US's
Speaker 16: behes that we got some of these humanitarian pauses. So
Speaker 16: really the question is where does it reach its limit? Again,
Speaker 16: So a lot of this stuff is going to be
Speaker 16: behind the closed doors, the discussions with Biden and Netanya
Speaker 16: who not taken out into the public, but you're starting
Speaker 16: to notice it in a lot of the public statements
Speaker 16: we're hearing from US officials.
Speaker 1: And as this fighting goes on and it compares to intensify,
Speaker 1: the question goes on as to how much longer this
Speaker 1: war can continue, how much more intense we could see
Speaker 1: that fighting take place, particularly around these population centers that
Speaker 1: do have very sensitive operations in Gaza City completely.
Speaker 16: And then there's the after question as well. But let's
Speaker 16: deal with the for how long question, which is you know, again,
Speaker 16: what Netanya who has said, and he said this as
Speaker 16: recently as a day or two ago, was that it
Speaker 16: will take not many years, right, So he's not ruling
Speaker 16: out the year's quantity of time. In this he says
Speaker 16: it'll take less time than the US took in defeating
Speaker 16: ISIS and al Qaeda, which again does not really narrow
Speaker 16: a very sort of slow and small window of period
Speaker 16: of time. But he's, you know, from the very beginning,
Speaker 16: giving himself a lot of flexibility in terms of how
Speaker 16: long this can go. And now the real question this
Speaker 16: we see another split potentially between the US and Israel,
Speaker 16: is what happens afterwards netnya who's suggesting that they will
Speaker 16: have indefinite control over Gaza. The security operations said, they
Speaker 16: say they don't want to rule it, but they also
Speaker 16: say they don't want to relinquish security control over Gaza.
Speaker 16: So again, these are all the sorts of points that
Speaker 16: are going to see develop And of course the big
Speaker 16: question is what is the future of Netanya? Who and
Speaker 16: whose decision will it be once there is peace about
Speaker 16: what happens with the relationship between Gaza and Palestine and Israel.
Speaker 1: And before we get even to all those questions about
Speaker 1: the future of Gaza and the future of the Israeli government,
Speaker 1: there's still this ongoing discussion about freeing hostages in Guza.
Speaker 1: What's the update.
Speaker 16: There completely So the latest that we've heard from this
Speaker 16: is that Biden spoke to the Katari emir As we know,
Speaker 16: Qatar has played an absolutely fundamental role in the sort
Speaker 16: of got between Israel and of and the United States
Speaker 16: and Hamas. We hear again and again that there is
Speaker 16: potential progress on a deal, but every time we hear that,
Speaker 16: it's sort of backslides. So again, there has been more
Speaker 16: and more talked about it over the last few days,
Speaker 16: but I think you really cannot really rely on anything
Speaker 16: until it's fully secured. What we do know is that
Speaker 16: Israel has entirely ruled out a ceasefire until all the
Speaker 16: hostages have been freed.
Speaker 1: And in our last thirty seconds, the discussion we've had
Speaker 1: with Israel's economy minister, it seems like there's a determination
Speaker 1: as well to keep this fight going, even if it
Speaker 1: damages Israel's budget, even if it damages the economy.
Speaker 16: Yeah, I mean, the impact on the Israeli economy has
Speaker 16: been very sort of covid like in many respects where
Speaker 16: you know, obviously there's a war effort underway, but we've
Speaker 16: subtracted let's say, three hundred and fifty thousand people from
Speaker 16: the workforce that's about eight percent of the Israeli Workfor
Speaker 16: us is when you go down the streets, you know,
Speaker 16: many of the businesses are closed, all the universities are
Speaker 16: on pause. All of this stuff is really a standstill.
Speaker 16: But again, they see this as an existential fight, so
Speaker 16: they're gonna be willing to pay the price.
Speaker 1: This is Bloomberg Daybreak Today, your morning brief on the
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