Speaker 1: Good morning.
Speaker 2: I'm John Tucker and.
Speaker 3: I'm Karen Moscow. Here are the stories we're following today.
Speaker 1: Let's begin with politics and another ban for Donald Trump.
Speaker 1: Maine's secretary of state has removed the former president from
Speaker 1: the Republican primary ballot ahead of the twenty twenty four election.
Speaker 1: Details this morning from Bloomberg's Ed Baxter.
Speaker 4: Secretary of State Shedd of Bellows, is using the insurrection
Speaker 4: clause to become the first election official to take unilateral action.
Speaker 4: Bellow says insurrection for his activities in the January sixth
Speaker 4: election overturn riots. The Trump campaign says it will appeal
Speaker 4: in Former Congressman John Katko says it should go to
Speaker 4: the top.
Speaker 5: It's got to go to Supreme Court. Several states and
Speaker 5: now I had this ruined.
Speaker 6: So the Supreme Court's going to set the parameters of.
Speaker 5: What we do with situationally like this going forward.
Speaker 4: So the US Supreme Court should have a number of
Speaker 4: cases now from which to choose on the issue. At
Speaker 4: Baxter Bloomberg.
Speaker 3: Radio, All right, ed, Thanks, And ahead of yesterday's decision,
Speaker 3: presidential campaign blasted main Secretary of State Shenna Bellows, colloring
Speaker 3: her hyperpartisan and a virulent leftist. Trump's campaign says it
Speaker 3: will quickly seek to appeal her decision in Maine State court.
Speaker 1: And turning down to geopolitical news, half of containerships which
Speaker 1: regularly use the Suez Canal are avoiding the route and
Speaker 1: the recent attacks by the houthy militants of the Red Sea.
Speaker 1: Data compiled by Flexport shows two hundred and ninety nine
Speaker 1: container ships have either changed course or planned to That
Speaker 1: accounts for eighteen percent of global trade. Mercury Resources CEO
Speaker 1: Anton Posner says many major firms want to know more
Speaker 1: about the US response to the attacks.
Speaker 5: We're seeing increased freight, increased insurance, a lot of uncertainty,
Speaker 5: and mixed signals from shipowners, container lines, and from governments
Speaker 5: on what's happening. To basically mitigate the risk and the
Speaker 5: threats that are out there, phonesium in the ardent groups.
Speaker 1: Mercury Resources CEO Anton Post nurses some companies are your
Speaker 1: puting off decisions until the new year, as at tax continue.
Speaker 1: The US says it's speaking with shipping firms in an
Speaker 1: attempt to ease the concerns.
Speaker 3: And Johnny also continued to follow developments in Ukraine, Russia
Speaker 3: launching deadly strikes on civilian targets in Ukrainian cities overnight.
Speaker 3: It came days after Russia reported one of its ships
Speaker 3: in Crimea was damaged by Ukrainian missile strike, with Kiev
Speaker 3: stepping up attacks against Moscow's navy, and as we enter
Speaker 3: the new year, Ukraine's pleating with foreign donors to send
Speaker 3: aid a mid uncertainty over its twenty twenty four budget
Speaker 3: and turning.
Speaker 1: Down to the markets and the final day of the
Speaker 1: twenty twenty three rally with the investors anticipating FED rate
Speaker 1: cuts in the new year. The S and P five
Speaker 1: hundred cap yesterday's session just a few points away from
Speaker 1: its all time high. This year, the S and P
Speaker 1: five hundred is up almost twenty five percent, with the
Speaker 1: MSCI All Country World Index rallying about twenty percent. Mona Mahajan,
Speaker 1: the senior investment strategist with Edward Jones, says the rallies
Speaker 1: broadened over the final bonds of twenty twenty three.
Speaker 7: Year really driven by that magnificent seven a large cap
Speaker 7: technology trade, and over the last few weeks we have
Speaker 7: seen a broadening of participation, whether it's value cyclical parts
Speaker 7: of the market, whether it's small and MidCap parts of market,
Speaker 7: whether it's bond markets, all of which have played some
Speaker 7: catch up in recent weeks.
Speaker 1: Mana mahajin with m Where Jones says signs of cooling
Speaker 1: inflation and anticipation of a FED pivot continued to drive
Speaker 1: the rally forward.
Speaker 3: And oversus this morning, John European stocks eking out one
Speaker 3: last gain on the final trading day of the year,
Speaker 3: but it's not all good news specifically in the UK,
Speaker 3: and Bloomberg. Stephen Carroll joins us with more from London.
Speaker 3: Good morning, Stephen, Good morning, Karen and John. Inflation has
Speaker 3: slowed sharply in the UK in recent months, but consumers
Speaker 3: are increasingly worried about the year ahead. A KPMG survey
Speaker 3: shows four and ten people are more concerned about their
Speaker 3: financial security now than they were a year ago, while
Speaker 3: data from Barcleycard indicates households are cutting back on things
Speaker 3: like clothing and eating out. All of that raising fears
Speaker 3: of a consumer that could tip the economy into session.
Speaker 3: When relative bright spot the latest house price data from
Speaker 3: nationwide showing prices fell less than two percent in twenty
Speaker 3: twenty three, defying expectations of a sharper downturn in London,
Speaker 3: Stephen Carol Bloomberg Radio.
Speaker 1: Thanks Steven and In a banner year for stocks, the
Speaker 1: Nasdaq scept for its best year since nineteen ninety nine
Speaker 1: after his seven trillion dollar search artificial intelligence mania driving
Speaker 1: the run for the tech heav engauge from Nvidia to Microsoft,
Speaker 1: the seven largest US tech stocks, the Magnificent Seven, were
Speaker 1: responsible for sixty four percent of the nanstac rally this year.
Speaker 1: The index is up over fifty percent in twenty twenty three.
Speaker 3: And speaking of Nvidia, John the chip making giant is
Speaker 3: selling a hobbled version of a gaming chip to its
Speaker 3: Chinese customers. Bloomberg Tech reporter Ian King says the move
Speaker 3: comes after the US government tightened restrictions on what the
Speaker 3: company can market there.
Speaker 6: Really what matters is what happens in the AI accelerator market,
Speaker 6: and Video said it's going to have new tips for
Speaker 6: that business for China to meet these new rules. We
Speaker 6: don't know when that's coming, orisindeed if that will actually come,
Speaker 6: and that will have a much more concrete impact.
Speaker 3: On revenue and bloombergsing and King says, this version of
Speaker 3: Nvidia's chip for China's market has about ten percent fewer
Speaker 3: processing cores than what it sells in other countries.
Speaker 1: And elon Musk acts formally, Twitter lost its effor in
Speaker 1: court to block at California loss seeking to control toxic posts.
Speaker 1: More from Bloomberg's Charlie Pellett.
Speaker 2: In an eight page ruling of federal judge in Sacramento
Speaker 2: rejected arguments by the company formerly known as Twitter that
Speaker 2: the measure violates the free speech rights of social media platforms.
Speaker 2: The ruling comes after Musk ignited a firestorm in November
Speaker 2: by endorsing anti Semitic posts on his platform. X Corps
Speaker 2: CEOs scrambled to contain the fallout after major advertisers like Sony, Discovery, Apple,
Speaker 2: and CBS stopped or paused spending on the site. In
Speaker 2: New York, Charlie Pellett bloom Radio.
Speaker 3: It is time now for a look at some of
Speaker 3: the other stories making news around the world and for
Speaker 3: that were joined by Bloomberg's Amy Morris, Amy, Good Morning.
Speaker 8: Good morning, Karen. The Biden administration is warning Texas about
Speaker 8: its new immigration law to deal with illegal migration, Bloomberg's
Speaker 8: Nancy Lyons reports in a letter.
Speaker 9: The Justice Department reportedly says it will file a lawsuit
Speaker 9: against Texas if it implements the law that would empower
Speaker 9: state and local law enforcement officials to arrest, jail, and
Speaker 9: prosecute migrants suspected of entering the US ilegally. CBS News
Speaker 9: reports the DOJ says the law would basically criminalize actions
Speaker 9: that are already illegal at the federal level, and would
Speaker 9: undermine relations with Mexico and prevent officials from enforcing federal
Speaker 9: immigration laws. The measure is already being challenged by the
Speaker 9: American Civil Liberties Union that argues the law is unconstitutional.
Speaker 9: In Washington, Nancy lyons Bloomberg Radio.
Speaker 8: More US sailors and marines are being moved into the
Speaker 8: Eastern Mediterranean. CBS for reporting the two amphibious ships carrying
Speaker 8: fifteen hundred sailors and marines, along with jet fighters, helicopters,
Speaker 8: and armored vehicles, have transited the Suez Canal from the
Speaker 8: Red Sea into the Eastern Mediterranean. This gives the US
Speaker 8: military more ability to evacuate Americans from Lebanon if necessary.
Speaker 8: Israeli officials have been increasingly vocal with their threats to
Speaker 8: clear out a buffer zone in southern Lebanon if Hesbella's
Speaker 8: shelling of northern Israel doesn't stop. President Biden meanwhile says
Speaker 8: he's devastated to learn another American was killed by AMAS.
Speaker 8: American Judy Weinstein Hagai, was killed in the October seventh
Speaker 8: Hamas incursion. Biden vowed to do everything possible to bring
Speaker 8: home the remaining hostages, including IDF soldier Aiden Alexander from
Speaker 8: New Jersey. Alexander's mother is calling for her son's return.
Speaker 10: He's my boy, and every day, every minute of the day,
Speaker 10: I'm just I'm terrified.
Speaker 8: There are now six Americans presumed captive in Gaza, and
Speaker 8: the World Health Organization says it's getting harder to deliver
Speaker 8: medical supplies and fuel to Gaza because hungry people keep
Speaker 8: stopping the convoys searching for food. Gaza's health ministry also
Speaker 8: says dozens of people were killed in strikes across the
Speaker 8: Gaza Strip yesterday, days after Israeli forces said they'd be
Speaker 8: expanding operations. The Washington Post reports the director of one
Speaker 8: hospital says Sunday's attack killed at least eighty people. Global
Speaker 8: News twenty four hours a day and whenever you want
Speaker 8: it with Bloomberg News. Now I'm Amy Morris, and this
Speaker 8: is Bloomberg Karen.
Speaker 3: All right, Amy, thanks. We bring you news throughout the
Speaker 3: day right here on Bloomberg Radio. But now, as Amy's said,
Speaker 3: you can get the latest news on demand, and that
Speaker 3: means whenever you wanted, just subscribe to Bloomberg News Now
Speaker 3: to get the latest headlines right at the click of
Speaker 3: a button. Get informed on your schedule. You can listen
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Speaker 3: Bloomberg dot com plus apples, Spotify, and anywhere else you
Speaker 3: get your podcasts. Time now for the Bloomberg Sports Update.
Speaker 3: Here's Dan Schwartzman. Dan, good morning, Good morning Karen.
Speaker 10: The Cleveland Browns clinched just their second trip to the
Speaker 10: playoffs since two thousand and two with a dominating performance
Speaker 10: against the New York Jets.
Speaker 1: Joe Flacco got hit. He rolls out of the head,
Speaker 1: he runs it, then he crows it.
Speaker 10: And fort caught it head, the thirty head, the twenty head,
Speaker 10: the fifteen.
Speaker 11: Head, the ten head of five past no good head.
Speaker 6: He vaulted for.
Speaker 9: Tag jing board Hot you.
Speaker 10: That's courtesy of ESPN eight to fifty Radio in Cleveland,
Speaker 10: behind three hundred and nine passing yards and three touchdowns
Speaker 10: from Joe Flacco. The Browns improved eleven and five on
Speaker 10: the season with a thirty seven to twenty win over
Speaker 10: the Jets. Jerome Ford catching two touchdown passes while David
Speaker 10: and Joe who gains one hundred and thirty four yards
Speaker 10: on six catches. Jets fall to six and ten on
Speaker 10: the season. Week seventeen of the NFL season continuing Saturday
Speaker 10: with the Marquee matchup in Dallas as the ten and
Speaker 10: five Cowboys are hosting the eleven and four Detroit Lions.
Speaker 10: Speaking of Detroit, the Pistons were oh so close to
Speaker 10: ending their twenty seven game losing streak as they led
Speaker 10: the Boston Celtics by nineteen points at halftime and at
Speaker 10: one point by twenty one points before collapsing and losing
Speaker 10: in overtime one twenty eight to one twenty two. By
Speaker 10: dropping their twenty eighth consecutive game, the Pistons time the
Speaker 10: Philadelphia seventy six ers for the longest losing streak of
Speaker 10: all time, which Philly accomplished between the end of the
Speaker 10: twenty fourteen twenty fifteen season and the start of the
Speaker 10: next year. Elsewhere, Nikola Jokich turning in a perfect triple double,
Speaker 10: not missing from the field or the free throw line
Speaker 10: in the Nuggets one forty two to one to five,
Speaker 10: winner of the Grizzlies. That's your Bloomberg Sports update on
Speaker 10: the ent shportsman.
Speaker 12: From coast to coast, from New York to San Francisco,
Speaker 12: Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business
Speaker 12: Appen Bloomberg dot Com.
Speaker 1: This is Bloomberg Daybreak and good morning. I'm John Tuckery.
Speaker 1: You did hear. Among our top stories mains Secretary of
Speaker 1: State rule that Donald Trump cannot run in the state's
Speaker 1: Republican primaries, citing his efforts to overturn the twenty twenty
Speaker 1: election results. Let's take a deeper dive into the story
Speaker 1: this morning. We're joined now by Terry Haynes of Pangea Policy.
Speaker 1: Always a pleasure to speak to you, Terry. Certainly it's
Speaker 1: not going to be the last word, and it sets
Speaker 1: up for what one observer calls an epic constitutional showdown.
Speaker 1: What is your view?
Speaker 11: My view, firstly is discount anytime anybody says things like epic.
Speaker 11: But secondly, John, I think what you have to understand
Speaker 11: is what listeners have to understand is a little bit
Speaker 11: of perspective here Colorado. This Colorado Supreme Court, by a
Speaker 11: four to three decision, made its determination, but its Secretary
Speaker 11: of State has already said that Trump's going to be
Speaker 11: on the primary ballot, you know, abbs in some sort
Speaker 11: of additional action.
Speaker 12: So if that.
Speaker 11: Doesn't confuse things enough. Secondly, what you've got from the
Speaker 11: main Secretary of State yesterday is kind of an executative
Speaker 11: version of what the Colorado Supreme Court said, deciding on
Speaker 11: our own that trum Trump was an insurrectionist, but also
Speaker 11: understanding that the thing is going to be appealed. Net
Speaker 11: I wouldn't look for any of these things to stick.
Speaker 11: The Supreme Court of the United States is almost certainly
Speaker 11: not going to allow states to decide how to interpret
Speaker 11: the fourteenth Amendment of the Constitution, or alone denied candidate
Speaker 11: to federal rights under the Fifth Amendment. So, you know,
Speaker 11: generally speaking, I think these things are overblown. And the
Speaker 11: last thing I will say is there's a lot of
Speaker 11: state and federal courts that have decided in ways opposite
Speaker 11: of the Colorado and main courts. People need to remember
Speaker 11: that too.
Speaker 1: Donald Trump initially ran as a disruptor, and now he
Speaker 1: seems to be running as a victim. Does this all
Speaker 1: embolden him or does it give rise to some something
Speaker 1: along the lines of Trump fatigue.
Speaker 11: You know, that's a very good question, and I think
Speaker 11: the answer probably is some of both. The conventional wisdom
Speaker 11: right now is that this emboldens and empowers him with
Speaker 11: the electorate. You can certainly see how that might be
Speaker 11: so instinctively. But at the same time, it also I
Speaker 11: think adds to the appeal of not Trump Republican candidates
Speaker 11: who say, look, if you like the conservative policies and
Speaker 11: have them during Trump's administration, we can have those back,
Speaker 11: and we can have them without the circus. We're going
Speaker 11: to find out which of those is true, or potentially
Speaker 11: whether both of them are true, starting in about three
Speaker 11: weeks in Iowa, and so you know, we will see.
Speaker 6: But the.
Speaker 11: Attains me not to make a call on that, but
Speaker 11: I mean, truly we will see. I'm not going to
Speaker 11: be the expert on the feelings of the Iowa electorate,
Speaker 11: but the bottom line is is that I underperformed in
Speaker 11: the Iowa caucuses is going to give rise to a
Speaker 11: narrative that Trump, it might not be as strong, and
Speaker 11: the challengers are getting stronger, and that will reinvigorate the
Speaker 11: race at it to some extent.
Speaker 1: All right, speaking of challengers, Nikki Haley also making news
Speaker 1: with what she says or doesn't say, are the causes
Speaker 1: of the Civil War, namely slavery. How does that play
Speaker 1: out in the election cycle.
Speaker 11: I think that's a blip, honestly, John. It's used by
Speaker 11: and I'm not meaning to to minimize, No, I mean
Speaker 11: to minimize what she said or how she said it.
Speaker 11: But I think it's a blip. You know, she did
Speaker 11: what she needed to do, which was she was trying
Speaker 11: to make a trying to use a kind of states
Speaker 11: rights versus federal point about the war to make a
Speaker 11: case about the tensions that exist today. It was ham fisted,
Speaker 11: and she took it back, she clarified, and I think
Speaker 11: that that goes away pretty quickly.
Speaker 1: Honestly, this is kind of out of left field. Is
Speaker 1: Joe Biden going to stick with Vice President Kamala Harris
Speaker 1: as his running mate?
Speaker 6: Oh?
Speaker 2: I think so.
Speaker 6: Yeah.
Speaker 11: The Biden sees Harris whole including faults, but he would
Speaker 11: have a devil of a time taking taking her off
Speaker 11: the ticket at this point, and for that reason alone,
Speaker 11: I think he won't.
Speaker 1: Give us your view of how the election is all
Speaker 1: playing out.
Speaker 11: I will refer listeners right back to a very interesting
Speaker 11: Bloomberg story on the terminal about a Quinnipiac poll that
Speaker 11: was released on Wednesday that shows Biden and Trump basically
Speaker 11: the dead heat and the popular poll, but if you
Speaker 11: add Bob Kennedy to it, it becomes a thirty eight
Speaker 11: Biden thirty six Trump Kennedy twenty two race. And I
Speaker 11: point that out only to say that I've been saying
Speaker 11: for some time that third parties are going to be
Speaker 11: more invigorated and more important to this presidential race.
Speaker 1: You're listening to Bloomberg Daybreak today, your morning brief on
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