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Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today.
Karen, we begin with the latest from Washington, d C. Where Congress is set to meet on a snowy Capitol Hill today to certify President elect Donald Trump's win in November. President Biden invited a group of new Democratic lawmakers to the White House last night and urged them to commit to a peaceful transfer of power.
Now it's your duty to tell the truth. Remember what happened, and I'll let January sixth be rewritten as or even erased.
The riot at the Capitol on January sixth, four years ago has turned into a political flashpoint, and President elect Trump is widely expected to grant swift clemency to the thousand plus people convicted over the events of that day. We get that story from Bloomberg's Doug Prisner.
The President elect has downplayed the severity of the attack and announced its prosecutions, and he's expected to fulfill his promises of swift clemency for the one thousand plus people convicted and the hundreds more with pending cases. The question is how such a move would impact democracy and the rule of law. Mass pardons would also set the tone for how Trump might wield the presidency to reward loyalist
and critics fear punish opponents. This year's January sixth election certification has for the first time been designated a National Special Security event. In New York. I'm Doug Prisner, Bloomberg.
Radio, all right, dog, thank you, while looking to our neighbors to the north. Canada's Prime Minister Justin Trudeau is said to be preparing to announce his resignation. The Globe and Mail newspaper says the announcement could come as early as today. It would trigger a race for the party leadership, with the winner becoming PM. Trudeau has been under pressure from lawmakers in his party to quit for months. Scrutiny grew last month after his Finance minister, Christia Freeland quit.
And politics around the Globe Karen, South Korea's corruption watchdog has asked a court in Seoul to extend a warrant to arrest President yunsuk yol. The move comes after their first attempt last week ended in failure following an hour's long standoff with the UN's security team. Secretary of State Anthony Blincoln is in Seoul. He expressed confidence in South Korea's acting.
Later, We've got serious concerns about some of the actions that President unon took. We communicated those directly to the government. At the same time, we have tremendous confidence in the resilience of South Korea's democracy.
And while Secretary of State Anthony Blincoln's in Seoul, North Korea fired an intermediate range ballistic missile toward its eastern waters.
Well, Nathan, back here in the US, it's the first full work day with the New York City congestion pricing program in effect. Dim we get this story with Bloomberg's John Tucker and John it's something of a first Yeah.
In fact, this was the first such program in the United States. Karen Morales lives north of New York and she's the main caregiver for her aging father who lives in Lower Manhattan, and her reaction is typical among drivers. She calls the toll and abuse of the working class to try to.
Make more payments.
Just to do that, I think it's hard for middle class person.
Jenno Lieber, the head of the MTA, would rather focus on the benefits.
The good news for the.
Core function of fire and EMS is one of the principal goals is to make response.
Times faster, and that's especially.
Important for EMS fourteen hundred cameras and easy Pass detectors who are switched on Sunday to catch every vehicle traveling south of sixtieth Street and to hit them with a new nine dollars toll during peak travel times. This is all part of the plan to bring fifteen billion dollars to the MTA to upgrade subways and mass transit. The goal is to coax more people to use mass transit and encourage trucks to make deliveries overnight. One hurdle is
that some residents still feel safe on the subways. The fatal burning last month of a woman sitting in a subway car at Cody Onand shocked the city. There have been several stabbings and incidents of people pushing riders onto train tracks and looming large over congestion. Pricing is the change of administration at Washington. President elect Trump opposes it New York. I'm John Tucker Bloomberg Radio.
Well, we turn to the markets now and futures are hire. As we kick off the first full trading week of the new year. This morning, the yield on the thirty year treasury climb to its highest level since November of twenty twenty three. Right now, futures again higher, SMP futures up four tenths of percent, down futures up a tenth of up percent, NASDAG futures up seven tenths of percent, and the thirty year yield four point eight three percent.
And this first full trading week of the year, Karen is going to feature a jobs report, fed minutes and a smattering of earnings news. Let's get a preview from Bloomberg's Charlie Pellett.
Magnificent seven. Profit growth this year is projected to slow to seventeen point nine percent, learnings increases for the rest of the s and P five hundred accelerate to ten point nine percent. Emily Rowland is co chief investment strategist at JH Investments.
In order for earnes to see these double digit estimates that are being banked in right now, you probably need to see bondyields come down a bit. Here. You probably need to see that cost of borrowing again sort of become a little bit more mitigated.
Here this week, we hear from Constellation Brands, Delta and Sam Song in New York. Charlie Pale, Bloomberg Radio.
All right, Charlie, thank you well. In deal news, Bloomberg News has learned Paychecks As in advanced talks to acquire pay Corps, a smaller rival in payroll processing. The acquisition would bring together two major players in the human resources software and services market, allowing for cost cuts and bundled services for customers. Shares of pay Core they are arising in early trading. They are of almost nineteen They're of at least twelve percent in early trading.
Turning to the economy now Karen, two FED officials say the central bank must finish its fight on inflation and reach the two percent target. At the American Economic Association, FED Governor Adriana Kugler said the economy is growing at a healthy pace, but everyone needs to keep their eye on the labor market.
It has cooled but remain resilient. And it has remained resilient. We still see real wages growing at about one point five one point six percent, and at the same time, though the unemployment rate has been stepping up a bed.
It's still at.
Four point two percent, which is a historically low rate of unemployment.
Adriana Kugler went on to say the FED is moving toward the two percent inflation target, but there is work that still needs to get done. Speaking separately, Mary Daily, head of the San Francisco FED, said inflation remains uncomfortably above the fed's target.
As time. Now, we're look at some of the other stories making news in New York and around the world, and for that we're joined by Bloomberg's Michael bar Michael, good morning, Good.
Morning, Karen. A major winter blast off snow, ice, high winds, and plunging temperatures. They're stirring up dangerous conditions across the US Central and Southern states all the way to the East Coast. Bloomberg Media religiust Rob Carolyn has the latest.
A significant winter storm will be affecting areas from the Ohio River Valley to the mid Atlantic today, with heavy snow likely in the district in Baltimore. Some areas are probably going to see anywhere from six to as much as ten inches of snow from this system. There will also be heavy rain extending from the system through the
Carolinas into parts of Georgia and the Florida Panhandle. Behind the system, very cold air stretching from the Dakota's southward into Texas, and some of that'll be moving into the mid Atlantic States later this week. I'm Rob Carolyn Bloomberg Radio.
Thank you Rob. It's a busy week for law enforcement in Washington, d C. They are preparing for the state funeral a former president, Jimmy Carter. Carter's body will remain in Atlanta through today before making the trip to d C for Thursday's funeral, where President Biden will delivered the eulogy. Thousands of extra police officers are being brought in, with hundreds of soldiers on standby, and the DC National Guard
has been activated. The FBI says the man responsible for the deadly truck attack in New Orleans on New Year's Day visited the city twice before and recorded video of the French Quarter with smart glasses. Authorities saying the attack by Shim's Dude Dean Jabbar, killed fourteen people and injured dozens of others. The former US Army soldier proclaimed his support for Ices in online videos posted hours before he struck the Brutalist was crowned Best Drama Film at the
Golden Globes last night. Adrian Brody won for Best Actor. In the movie, he plays a Hungarian Jewish architect who immigrates to the US to escape the Holocaust. During the CBS telecast broad he had a message for real life immigrants.
I hope that this work stands to lift you up a bit and to give you a.
Voice, and I'm so grateful. I will cherish this moment. Treford, thank you.
Emilia Perez took home the Best Motion Picture, Musical or Comedy. Global News twenty four hours a day and whenever you want it with Bloomberg News. Now, I'm Michael Barr, and this is Bloomberg Cameron.
All right, Michael Barr, thank you time now for the Bloomberg Sports Outdate, brought to you by Tri State Audie. Here's John Stanshower.
John, good morning, Good morning care.
In the NFL regular season ended in Detroit, Lions and Vikings both came in with a gaudy fourteen and two record, but only one would get the first round by home field advantage. The loser would have to play likely all their playoff games on the road. It figured to be a close game. It was not all Lions. They won thirty one to nine. There were four touchdowns scored in all four by Detroit Jamiir Gibbs. As for the Giants, the one hundred season in franchise history one of the worst.
The club record fourteen losses, a twelfth loss in a row in Philadelphia, even with the Eagles arresting their best players, Philly, led by third string quarterback Tanner mc he won twenty to thirteen. And now we'll see if the Giants clean house or decide to keep coach Brian dave All and GM Joe Shane. We know the Jets are looking for a new coach in GM, probably a new QB.
If this was Aaron Rodgers.
Last Jet game, it was his best and it included a career milestone.
Good shotgun for Rogers.
Presaul in motion, He's back to throw steps up with the pocket Sidearms went over the middle top touchdown.
Tyler Conklin and that is.
Career touchdown pass number five hundred.
Wax two Rogers joining the club with only four other members Tom Brady, Drew Brees, Peyton Manning and Brett Farvey. Through four teen passes, and the Jets beat Miami thirty two to twenty. The Patriots beat the Bills twenty three sixteen, but they went just four and thirteen for the second straight year, and just after the game ended, they fired Gerond Meyo. He gets just one season as Bill Belichick's successor. We'll see if Dallas fires Mike McCarthy after a season
with only two home wins. The Cowboys on a TV with three seconds left, lost to Washington three three to nineteen. Commanders went twelve and five, their best season since nineteen ninety one. Denver got the last playoffs bought in the AFC. Tampa Bay got the last one in the NFC. The playoffs begin Saturday. The Rangers won six two at Chicago. The golf at Kapalua won by Hedeki Matsuyama with a PGA record score of thirty five.
On DUPA, John stash that We're Bloomberg Sports.
Kenny and Nathan.
Coast to coast on Bloomberg Radio nationwide on Sirius XM, and around the world on Bloomberg dot Com and the Bloomberg Business Appum. This is Bloomberg Daybreak.
Good morning, I'm Nathan Hager. Memories of January sixth, twenty twenty one are hanging over this January sixth, this Congress gets ready to gather today to certify Donald Trump as the next president of the United States. Outgoing President Joe Biden says it is a day American should never forget.
Today that most of our history we took for granted the sixth, but I hope we never take it for granted again. You know, four years year ago, in January sixth, this capital was attacked by a violent.
Mom and as president like Trump considers clemency for his supporters that day, President Biden told new Democratic lawmakers it is their duty to uphold the peaceful transfer of power. Today. Joining us this morning is Bloomberg's Kevin White Law. Kevin, we really are expecting this to be a much different January sixth than four years ago, aren't we a good morning?
Yeah?
I mean yes, thanks, we are, and I think you're seeing. First of all, it's being taken much more seriously as a security risk and many many more precautions being taken. There was no fencing around the Capitol last time. It hadn't been declared a major national security event. Up to that point, always been a reasonably pro former kind of thing where it kind of went and people didn't even really notice it. This time it's a very different thing.
But you also have an administration in the Biden administration that is committed to a smooth process, taking part in it and making sure that they set an example for what a peaceful transfer of power is supposed to look like.
And I guess we're seeing elements of that example in an op ed from the President in the Washington Post this morning talking about his determination to uphold the peaceful transfer power, even to return to the capital on January twentieth to attend President Trump's inauguration, something that the former now president elect did not afford President Biden four years ago. How likely is it, though, that President elect Trump moves quickly on clemency for his supporters from that.
Yeah, I mean, he certainly has promised that he's going to move very quickly to you know, possibly even on the first day, to do some kind of clemency. I think the only question really is sort of how broad it is and is it a pardon, is it clemency for is it selective? Does it sort of encompass all of the prosecutions. There's obviously a lot of concern among sort of the Justice Department folks and prosecutors and even some judges who have made it clear this was obviously
a very serious event. There were people who were injured. There there was even one who was killed. It was an event that did also tear apart of the country a little bit. And the notion of a mass pardon is has a lot of people worried about what that says about sort of, you know, potential future problems. Should should there be another kind of similar moment where someone
in power resists the peaceful transfer of power. It's really unclear exactly what Trump is going to do, and it is possible that there will be a somewhat more you know, he could, for instance, separate non violent versus violent offenders and handle them differently. That's a possibility, but the broadery goes the more controversial. It's obviously going to be just.
Thirty seconds left, Kevin. But if the president elect does do like a blanket clemency or a wide move like that, what does that mean for setting his agenda? I mean, he's talked about trying to pass a whole bunch of things in fell Swoop.
Well, it does, and obviously a lot of what he's going to have to do if he wants to really be broad is could do it through this process called reconciliation, which is a way of doing it without the votes of Democrats. But it's going to be extremely hard. His margins and Congress are very narrow, and the broader clemency movement goes, the less Democrats are going to be willing to give him space on other parts of his agenda that will indeed need their votes.
This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond.
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Don't forget to subscribe to Bloomberg News Now. It's the latest news, whenever you want it in five minutes or less. Search Bloomberg News Now on your favorite podcast platform to stay informed all day long. I'm Karen Moscow.
And I'm Nathan Hager. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg.
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