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Good morning, I'm Nathan Hager and I'm John Tucker. Here are these stories we're following today.
We begin with the latest on a celebration that turned into chaos in Kansas City. At least one person is dead more than twenty others wounded in a mass shooting that followed the Kansas City Chiefs Super Bowl victory parade. Authorities say at least eight of the victims are children. Three suspects are in custody. Kansas City Mayor Quentin Lucas says the city celebration should not have ended this way.
This is a day that a lot of people look forward to, something they remember for lifetime, and what they shouldn't have to remember is the threat of gun violence.
And Mayor Quentin Lucas says the White House and federal agencies have offered assistance. President Biden put out a statement reiterating his call for an assault weapons ban.
And turning down to politics here in the US, we're learning that former President Donald Trump considering major chain to America's commitment to NATO if he returns to office. Details from Bloomberg's and Baxter.
Trump says scaled back commitments to NATO nations with a two tiered NATO Alliance, where Article five, which requires common defense of any member under attack, would apply only to those that hit defense spending goals others not defended. His advisers say no plans have been finalized. Trump also says he wants to push Ukraine to settle the war as a condition to getting any more aid ed Baxter Bloomberg Radio.
Okay, and thank you.
Russian President Vladimir Putin's weighing in on the US presidential race for the first time. In an interview with State television, the Russian leader was asked who would be the better US president for Russia, Joe Biden or Donald Trump. Here's Putin's answer through an interpreter.
Biden Biden, he is the more experienced person. He's predictable, he is a politician of the old formation. Or we will work with any US leader who the American people have confidence in me.
Back in twenty sixteen, Vladimir Putin praised the other front runner, Donald Trump.
And now let's turn to the Middle East. Gaza's health ministry says Israel has stormed the main hospital in southern Gaza as comes a day after Israel's army born the thousands who saw on shelter at the NACER hospital in Conyunis to evacuate. Israeli Prime Minister at benjaminettya who has backed out of ceasefire talks in Cairo. He's calling Kamas's demand for a total Israeli withdrawal from Gaza delusional. Allies, including the Canadian Prime Minister Justin Trudeau, are calling for restraint.
The threats to more action on Rafa has everyone deeply worried. We need to see stabilization in the region peace and we need to work on the two state solution.
That is the only.
Way to ensure durable peace and safety.
Just bite Prime Minister Trudeau's comments, Israel's position suggests that even a temporary plause in the fighting remains a distant prospect.
John.
Let's turn now to space. A privately owned moonlander is on its way to the Lunar Service three two one ignition and with up Go SpaceX GO I AM one and the Odysseus Lunar Lander. The IM one flight is carrying six NASA payloads of instruments designed to gather data about the lunar environment. The latest in SpaceX's Intuitives machines mission is a head of the agency's planned return of astronauts to the Moon later this decade.
And turning to the market, stock futures higher half to the S and P five hundred closed at five thousand yesterday was a big tech once again leading the way. Now we found out tech was a big theme for hedge fund managers in the latest thirteen f filings. Let's get more from Bloomberg's Doun Prisner.
Hedge funds seem to be chasing the rally in information technology, fueled by the growth and artificial intelligence. The latest quartal IT reports filed with the SEC show institutional buying of Amazon, Intel, and Nvidia. In Q four, Metaplytforms was an outlier, with a net sale from hedge funds worth six point six million dollars in stock. It suggests these investors may have locked in profits after Meta jumped eighteen percent in the
final quarter of twenty three. Technology accounted for the biggest waitings in hedge fund portfolios at twenty five percent. Consumer discretionary was next at fifteen percent. In New York, I'm Doug Prisner, Bloomberg Radio.
Doug Fanks and Company News, Shares of Cisco are down more than five percent. The largest maker of networking equipment slashed its full year forecast and also said it would cut about five percent of its global workforce.
That's about four thousand jobs.
And we're also getting job cuts in the financial industry, sources say Morgan Stanley planning to eliminate several hundred jobs. Those cuts will affect less than one percent of employees in the wealth management business, which hands about forty thousand workers.
Turning to the economy and other FED officials urging patients when it comes to cutting interest rates, Federal Reserve Vice Chair for Supervision Michael Barr says he agrees with Chairman j Powell's conscious approach.
Support what he called a careful approach to considering policy normalization given current conditions. January's report on consumer Product index inflation is a reminder that the path back to two percent inflation may be a bumpy one.
The Fed's Michael Barr also repeated his long standing view that the US banking sector is sound.
In Europe, the UK slipped into a mild recession in the second half of twenty twenty three. Gross domestic product found three tenths of a percent of the fourth quarter. That follows an unrevised one tenth of a percent decline in the previous three months.
And Japan's economy also unexpectedly slipped into recession after shrinking for a second quarter due to anemic domestic demand. GDP contracted an an annualized pace of four tenths of one percent in the final three months of last year, following a revised three point three percent retreat for Japan's economy in the previous quarter. Time now to take a look at some of the other stories making news around the world with Bloomberg's Michael Barr.
Good Morning, Michael.
Arding Nathan, Republican chair of the House Intelligence Committee, Congressman Mike Turner is publicly warning of a national security threat concerning a destabilizing foreign military capability, so serious that he says President Biden should declassify all information about it. It's reported the intelligence relates to Russia wanting to put nuclear weapons into space to possibly use against satellites. House Speaker Mike Johnson says he's aware of the issue and wants the public to stay calm.
I saw Chairman Turner's statement on the issue, and I want to assure the American people there's no need for public alarm. We are going to work together to address this matter.
Speaker Johnson says he will press the Biden administration to take appropriate action. The White House is urging House Republicans to agree to a foreign aid package already passed by the Senate. The ninety five billion dollar bill would fund Israel, Ukraine, and Taiwan, but House Speaker Mike Johnson has said that he won't bring the bill to the floor. Johnson wants foreign aid be tied to border security, but the Senate proposed bipartisan plan earlier this month that Speaker Johnson refused
to put to a vote. White House Press Secretary Kaarine Jean Vierre says that Johnson is stonewalling congressional progress and listen to former President Trump, who pressured Republicans to kill the bipartisan deal.
What is it he decided instead, he decides to choose Donald Trump. And let's not forget there's fentinal traffickers, right, that's what he sided with over the border patrol, over this president and in doing what majority of Americans wants us to do, he's the one killing this speaker.
Johnson says he wants to meet with President Biden, but the White House says that there's nothing to negotiate because the bipartisan Senate deal contained much what Republicans have been asking for related to border security. Donald Trump is expected to be back in the New York court today for a hearing that could decide whether the former president's first criminal trial begins in late March. Trump pleaded not guilty last April to thirty four counts of falsifying business records.
Prosecutors say Trump's company kept fraudulent records as part of a scheme to bury stories about extra marital affairs that the former president says were false. Trump's lawyers say the criminal case is politically motivated. Global News twenty four hours a day and whenever you want it with the Bloomberg News.
Now.
I'm Michael Barr, and this is Bloomberg Nator.
Okay, Michael, thank you time now for the Bloomberg Sports Update, brought to you by Tri State. Out of here's John stash Hour.
All right, Nathan, the Knicks right now have more injured players than healthy ones. Jalen Brunson did play in Orlando. But six of the knicks top players did not, and sure enough they lost to the Magic one eighteen to one hundred runs and scored thirty three in defeat. He's now headed Indianapolis to play in Sunday's All Star Game. It's a good time for the All Star break is the Knicks hope to at least get some of these injured players healthy.
They've lost four to Row five and six since that nine game winning streak.
Then Nets lost in Boston by p fifty one thirty six to eighty six. It's the second worst loss in Nets history. It's the Celtics second win this season by fifty or more and only two other teams have ever.
Done that in NBA history.
Before the game between Detroit and Phoenix, a fight in the tunnel and apparently one sighted one with the Pistons Isaiah Stewart punching the Suns Drew Eubanks and the face police broke it up and they arrested Stewart.
He was sighted.
In the Leafe College Hoops number one, Yukon won by thirty six at DePaul, also in the Big East seat and haulby Xavier. Fordham lost to Saint Bonavencer Ohio State fired coach Chris Holtman. He's in his seventh season, has four years left on his contract. Assistant Jake Diebler takes over with the Buckeyes fourteen to eleven, four and ten
of the Big Ten. Also getting fired forty nine Ers defensive coordinator Steve Wilkes PGA tours at Riviera in LA for Tiger Woods, his first appearance at a sanctioned PG event in almost a year.
He's got high hopes.
A nice stuffy would be nice.
All right.
I haven't.
Had ever won this event.
So I've played this event since since ninety two, and on the years I've played, I've still never have won this event. So hopefully that I got to figure something out and get myself in there in contention and you know, maybe get a w at the the end.
Of the week.
Talker to yous out Today twelve twenty five Easter John Stashiy hour Bloomberg.
Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias, Exam, the Bloomberg Business app, and Bloomberg dot Com.
This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. We are coming up to two years since Russia's invasion of Ukraine, and as the US gets closer to a presidential election, America's commitment to its traditional allies is becoming more of an issue. Bloomberg News has learned former President Donald Trump is considering dramatic changes to the US stance on NATO if he were to return to the White House, and here with us now to discuss it is Bloomberg News
Senior editor Bill Ferries. Bill, we know the former president has been critical of NATO in the past, to put it mildly, but from what we're hearing, the changes he's contemplating are pretty dramatic.
That's right, Nathan. Thanks. It sounds like what former President Trump has in mind if he's back in the White House is some kind of two tiered NATO where the Article five commitment, and that's the one that basically says, if you're attacked, we will all come to defend you. That would only apply to countries that are meeting the two percent of GDP two percent of spending of GDP on defense threshold. That's kind of long been, kind of long been the marker for NATO. It's not a requirement.
It's not put into the NATO chart or anything like that. But what President Trump, former President Trump, seems to be proposing is if you're below that threshold and you get attacked, then we may not come to your defense.
And we've also seen a lot more attention on tend rupt bill, but on the commitments that NATO members have been making. At this point, at least a majority of NATO nations are meeting that two percent threshold, aren't.
They They are.
It's when President Trump took office, NATO members were already starting to ramp up spending that started in about twenty fourteen twenty fifteen after Russia's invasion of Crimea that continued through the Trump presidency. It was, as you mentioned, a frequent focus of his speeches about NATO were at like about two thirds I think eighteen or so of the roughly thirty thirty one members are spending at least two
percent of GDP on defense. Now, it's important to remember NATO's not like a bank account that they're all depositing money in. This is literally what they are spending. How you define defense includes you know, salaries and healthcare benefits as well as weaponry. So how that breaks out within every country is going to be different. But you're at about two thirds of the thirty one members at this point.
What's the reaction among NATO members or among NATO itself to this kind of contemplation from the former president?
How seriously are they taking this? Well?
It's I think it is drawing a lot of concern if he gets in the White House that maybe the NATO alliance as we know it will basically start to fall apart. I think the Article five commitment is kind of seen as the core of NATO. It's only been invoked once in the organization's history, that was by the United States after September eleventh, But it's really seen as the reason there is in NATO. It's the alliance that
provides the bulwark against a resurgent Russia. And so I think a lot of countries look and start to wonder, you know, if you're a Baltic state, and you are even if you're making your two percent or more of spending on defense, would the US be there to defend Latvia or Lithuania. That's something that former President Trump has mocked in the past, the idea that US troops would go to defend those states. So I think across the Alliance it's going to generate a lot of alarm.
And as we're reporting these contemplations by the former president, really interesting to hear Russian President Vladimir Putin being asked about the US presidential race and who he would consider a better president for Russia, Joe Biden or Donald Trump, and he's saying Biden.
Once you take away from.
That, yeah, it's going to be very hard for me to try to get into Vladimir Putin's head. All I know is what he did say. He said he views Biden as more experienced and predictable, more traditional type politician. He was very much talking positively about Trump in the twenty sixteen campaign. But I don't think the Trump presidency necessarily worked out in the way that maybe Vladimir Putin may have hoped for him. But it's what he said. I'd hate to speculate as to what his motives are.
In the meantime.
Our last thirty seconds here, we also heard former President Trump out on the campaign trail saying that he would make further Ukraine aid alone if he were to come back to the White House as well.
What's some of the reaction to that.
Well, it's you know, this is this is talking about that sixty billion dollars in aid that's kind of stalled right now in the House. He's saying, basically, you know, maybe this should be some kind of a loan that they don't have to pay back if they lose the war, and then they can pay back if they win. I don't think that's going to help move move the debate over this aid in either direction at this point.
This is Bloomberg Daybreak Today, your morning brief on the story's making news from Wall Street to Washington and beyond.
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I'm Nathan Hager and.
I'm John Tucker. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg date Bright