Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today.
We begin in Washington, d C. President Biden held the last minute news conference last night after special counsel Robert Hurr decided not to bring charges against the President over his handling of classified documents. Her says Biden would have come across to a jury as a quote sympathetic, well meaning, elderly man with a poor memory. President Biden had some words about that.
I'm well mean, I'm an elderly man, and I know what the hell I'm doing.
I'm in President.
I put this country back on his feet.
Then the President had this to say about efforts to deliver humanitarian aid to Gaza.
Initially, the President of Mexico CC.
Did not want to open up the gate to allow humanitarian material to get in.
The President of that news conference mistakenly referred to the president of Egypt as the leader of Mexico. Bloomberg's Akaela Gardner reports this could add to one of Biden's biggest political liabilities, though he is not the only one.
Interestingly enough, Donald Trump has made similar Gas. He also referred to the Prime Minister of Hungary as the leader of Turkey. But Poles continue to show that voters are just more concerned about Biden, in particular with his age at eighty one.
And Bloomberg's A Kaela Gardner notes former President Trump is still facing charges in four criminal cases, including over his own handling of classified documents.
Well, Nathan, the former president could have better news coming from the Supreme Court. The justices appear likely to keep Trump on the Colorado ballot after historic arguments over whether he should be disqualified over his role in the January sixth Capitol riot, and the former president dominated the Nevada CAUCUSUS last night, putting him one step closer to clinching the Republican nomination. Bloomberg Amy Morris has Moore from Washington.
Donald Trump won Nevada in a landslide, claiming all twenty six of Nevada's GOP delegates. Just after securing a victory in the US Virgin Island caucuses in Las Vegas, Trump referenced yesterday's Supreme Court hearing on whether he can remain on the ballot in Colorado.
This was a great day. This was a great night our Supreme Court. Hopefully we'll be doing something in terms of helping our country and preserving democracy.
We have to preserve our democracy.
The next major Republican contest is February twenty fourth in South Carolina, Nikki Haley's home state, where she trails Donald Trump in the polls by more than thirty points. A loss there would be a devastating blow to her campaign, even though she says she'll stay in the race through Super Tuesday. On March fifth, Amy Moore as Bloomberg Radio.
All right, Amy, thank you.
We now turned to Russian President Vladimir Putin in his first interview with a Western media figure since the invasion of Ukraine two years ago. Putin says Russia has not achieved its objectives yet. Bloomberg zed Baxter has the story.
Putin says the goals have to be met, but then offered what he says is the way to stop the fighting. In this interview with Tucker Carlson, the message through translation directly to the US.
If you really want to stop fighting, you need to stop supplying weapons. It will be over within a few weeks. That's it, and then we can agree on some terms.
The US has rejected the same in the past. The war near's the two year mark, and neither side is showing any sign of capitulation. At Baxter Bloomberg Radio.
All right, ed, thanks, So we turned to the markets now in a stock cit in record territory, one Wall Street firm is issuing caution. Bank of America says the stock market is triggering several cell signals. Strategist Michael Hartnett says the bank's custom bull and bear indicator rose to six point eight. Our reading above eight would suggest the bullish trend is run too far, flashing a contrarian signal to sell. Harnett was Brownley Barrish on stocks last year, a call that did not play out.
And Karen investors today are awaiting annual revisions to monthly inflation data. More on that from Bloomberg's John Tucker, John and Nathan.
After last year's adjustments cast doubt on the Fed's progress in taming prices. This could increase or decrease confidence that policymakers have in a sustainable return to two percent inflation. Consequently, it may affect the timing of the first rate cut. Richmond Fed President Thomas Barkin speaking to Bloomberg yesterday about inflation reliability. It says, you do have to acknowledge how good the inflation data has been the last seven months, I.
Mean last seven months core inflation one point nine percent. That's right on target. That's terrific. All right, And I'm not rooting against inflation, but I'm always you know, trust but verify, you know, let's make sure that's really right.
The revisions are out at eight thirty Wall Street time. Well, the next key data point will be the regular inflation print. We get that on Tuesday. John Tuncker, Bloomberg Radio.
All right, John, thanks. You want to take a look at some stocks that are on the move this morning, including Expeedia. Those shares are down fourteen percent in early trading. Gross bookings in the fourth quarter, missing analyst estimates, and in a mo that caught many analysts by surprise. Expedia named Arian Goren as chief executive, succeeding Peter Kern, who's been in the role since twenty twenty.
We're also watching shares of Pinterest, Karen. They're down more than eleven percent. Fourth quarter revenue missed analyst estimates at the pinboard style search company. The results show a disappointing or follow I should say a disappointing report from Snap. That company suffered a stock plunge this week after holiday season sales miss projections.
In Europe, Nathan shares Aliel down seven percent sales at the French cosmetics group, disappointing investors. The owner of Landcombe suffered from a decline in shopping by Chinese travelers.
And back here in the US, Karen, new rules will force hedge funds to share more details about their investment strategies. Funds with net assets of at least a half billion dollars will be subject to changes, including reporting separately on each component of a fund and revealing how they're investing in crypto. This is an expansion of the current quarterly filing system for big managers. Regulators say it's a better way to keep tabs on risk in the financial system.
Orry Nathan, thanks time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris. Amy, Good morning, Good morning, Karen.
A bill that would provide aid for Israel, Ukraine, and Taiwan is moving forward in the Senate. Lawmakers voted in favor of advancing the foreign aid package after Republicans in that same chamber rejected a broader bill including those border policy changes. The move means the Senate can begin consideration of the ninety five billion dollar package. Former President Donald Trump is all but locked up the GLP nomination for
president after dominating in Nevada. The next major Republican contest is February twenty fourth in South Carolina, the home state of Nikki Hayley. That's where she served two terms as governor, but polls show her trailing Trump by more than thirty points. She does have a bus tour through the state for the next two weeks, while Trump has a get out the vote rally planned near Myrtle Beach, South Carolina. Later this weekend, drug company CEOs faced a grilling on Capitol Hill.
Senators accused them of ripping off off the American people by charging more for some of their most popular drugs in the US compared to what they charge in other countries. Senator Bernie Sanders is chair of the Health, Education, Labor, and Pensions Committee.
According to a recent poll, eighty two percent of Americans say the cost of prescription drugs is too high. And seventy three percent say that the government is not doing enough to regulate drug prices.
MERK CEO Robert Davis says the industry's charging practices come from, in part, the need to fund the research for new treatments.
Future treatment breakthroughs hinge on what we do now. We must hold onto a US pharmaceutical market that is free, competitive, and predictable.
Big pharmacyeos say systems outside the US might have lower prices, but patients will have to wait longer for medicines that are sometimes never approved our record. Sixty eight million Americans are expected to bet on the Super Bowl this Sunday. David Schwartz, UNLV professor and gambling historian says it is likely because legal sports betting has exploded in popularity.
It's beyond just something people do.
It's beyond the activity.
It's also a cultural pastime.
In a lot of ways, it's a social thing that people do together.
The number of Americans placing bets on the Kansas City Chiefs in San Francisco forty nine ers, is up thirty five percent from last year. So far, Schwartz says there will probably be more legal bets than at any other time in history. Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Maybe Morris and this is Bloomberg Karen right Amy.
Thanks. We do bring you news throughout the day right here on Bloomberg Radio. But now you can get the latest news on demand whenever you want it. Just subscribe to Bloomberg and News Now to get the latest headlines the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app a Bloomberg dot com, but also Apple,
Spotify and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update, here's John stash hour Carrod.
A lot of trade activity in the NBA before yesterday's deadline. Philadelphia seventy six per cent Patrick Beverly to Milwaukee for Cameron Payne. The Sixers also acquired guard Buddy Healed from Indiana. Brooklyn sent Spencer and Dinwoody to Toronto get back Dennis Struder and Thady is Young. The Raptors say they will wave Dinwoody. The Nets also traded Royce O'Neil to Phoenix Dallas traded Grant Williams to Charlotte and return the MAVs get back PJ Washington, Seth Curry and a first round
draft pick. Kelly o'lennock goes from Utah to Toronto for a first round pick. Warriors won at Indiana one thirty one to one oh nine for Steph Curry forty two points. He made eleven three pointers. He had twenty nine points by halftime. Cleveland won again one eighteen to ninety five at Brooklyn, the Cavs with their second eight game winning streak of twenty twenty four. In La, the Lakers unveiled the Kobe Bryant statue, and then they lost to Denver one fourteen to one oh six.
Hockey.
The Bruins of four nine in shutout went over Vancouver. That capital is lost at Florida. Florida too. Lamar Jackson a near unanimous NFL MVP. The Ravens quarterback got all but one first place vote. Cleveland' Kevin Stefanski named Coach of the Year. Houston quarterback CJ. Stroud the Rookie of the Year. The NFL Hall of Fame class includes Julius Pepper, Dwight Freeney, Patrick Willis, Devin Hester, Andre Johnson, Randy Gratis, Jar and Steve mcmike John Stashiew were Bloomberg.
Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC nationwide on sirisxam, the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak.
Good morning. I'm Nathan Hager. President Biden tried to push back hard at the latest questions about his age and mental fitness that came out of a special council's report that cleared him of charges over his handling of classified documents. But at a hastily arranged news conference last night, the President may have raised those questions himself with a new gaff in real time. For more on this and other political stories making news this morning, we were joined by
Terry Haynes, the founder of Pangaea Policy. Terry, Good morning. Of course, the slip up that is getting all the attention in news outlets across the country and really around the world is the President mixing up Egypt and Mexico in a question about Gaza AID at this news conference. Is the reaction to this overdone.
Well? Sure, good good morning. Well, sure it is in some ways. I mean, people will always make whatever political or personal hey that they want out of this. But you know, my view of this is it's a real issue. You know, it's the Justice Department Special Council comes out with a document that's that says, among other things, that Biden's got cognitive issues and that's one reason why they're
choosing not to prosecute. And then Biden, you know, does the snap news conference hours later and compounds the problem rather than puts it to bed. So you know, it's a real problem. And what he's done is, inadvertently or with intent, has made those those cognitive issues a cornerstone of the election. And he's also made them a cornerstone of geopolitical risk calculus.
I think that's a pretty strong statement, a geopolitical risk calculus that it's raising. That tell me more about why you think.
That very Simply that one of the things that other nations around the world, our friends, our foes evaluate in US is is our government. How the government works, who's at the top of the government, how they operate, why they operate that way. It's one thing to see, you know, and and all governments do this and evaluate this way. I mean, it's one thing to to see Biden's performance in news clips, It's one thing to uh to register
register it from AFAR. But what you had yesterday was a very different scenario where you had an army of the United States government. And how this is played everywhere else in the world is you know, senior official of the Biden's own Justice Department saying what he said about Biden's cognition, uh, and then having Biden come on and
demonstrated it at the same time. Uh. That makes the I think that makes the world a slightly more dangerous place, a slightly more risky place, because what our foes are going to take away from that is, uh that Biden's not up to it, and his own government knows it.
And that's the problem that has to be said though, Terry, that former President Trump has faced his own questions about his mental fitness. Nikki Haley's tried to hammer him on that when the former president mixed her up with Nancy Pelosi. I mean, what could these questions mean for the presidential race going forward?
Oh? You know, absolutely, I don't mean to I do not mean to suggest at all I'm trying to pile on here with Biden. I really don't. I frankly, I said in my note to to markets that I don't agree with the way that what the Special Council did, or the way the Special Counsel did it for that matter, I think it was absolutely unnecessary. But you know, put that aside. Yeah, they're both candidates to have these issues.
You know, as I think you said a little bit earlier, it seems to it seems to have embedded a lot more with with Biden than it has with Trump. We'll see if you know Trump's Trump's issues which Haley brings out, you know, continue, uh, but you know right now that Trump people are having a field day on this. Politically, I think think what it does for the race, frankly, is encourages more people to look for third party candidates.
There are an awful lot of people out there that are prepared to hold their nose and vote for Biden. I think in a two or three party race, but in a world where the vast majority of people don't want to see a Trump versus Biden race anyway, it's going to encourage people who may be voting for Biden and even probably a few that may want to vote for Trump to look at the third party candidates much more seriously.
This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond.
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