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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 on the slow rollout of the Jeffrey Epstein files. The Justice Departments released a second batch of documents from its investigation into the late sex offender. Many of them contained references to President Trump, including a twenty twenty email from a prosecutor that detailed trips on Epstein's private plane in the nineteen nineties. President
Trump has said those trips never took place. Bloomberg's Ben Bain reports the way the files are being released is frustrating all sides.
Part of this is we really don't know about the order with which things are being released. What the Department of Justice has said is that you know, they've tasked I believe it was two hundred people to be going through filings.
One of the things in the law that was.
Passed last month and signed by President Trump was at there are accommodations allowed for protections for survivors, and also some other accommodations for ongoing investigations or things like that if there are any. So we are seeing really heavy redactions.
Here in Bloomberg's Ben Bain reports, some lawmakers aren't Capitol Hill are accusing dj of violating the law by not releasing all its files by a December nineteenth deadline. The ongoing review means there could be even more releases as we head into the holidays mony than.
President Trump has been handed a rare defeat at the Supreme Court in a six to three decision that Justice has refused to allow the president to deploy the National Guard in Chicago to assist with immigration enforcement. Laurie Levinson is a former federal prosecutor and a professor at Loyola Law School.
It is a big decision from the Supreme Court that said that President Trump did not have the authority under the law heing vote to call up the National Guard in Chicago.
And that's Loyola Law professor Laurie Levinson. The High Court deliberated over the case for more than two months, usual amount of time for a request where the Trump administration claimed the city was facing an imminent threat.
Well, Karen, Another piece of the president's immigration policies got an a legal boost. A federal judge says the Trump administration can move ahead with a one hundred thousand dollars fee for new H one B VISA applications. Analysts say the ruling is a setback for US tech companies that rely on hiring skilled foreign workers, but the judge says President Trump has the power to impose the fee under
an express statutory grant of authority. The US Chamber of Commerce says the six figure fee will make H one B visa's cost prohibitive.
It can still appeal the decision.
Now, let's get the latest on the war in Ukraine. Nathan. Ukrainian President Vladimir Zelenski says his country and the US remains split primarily on territorial issues. In talks on a peace plan to when the war, Ukraine rejects Russia's demand to give up land in eastern Donetsk, fearing it would leave the country vulnerable to a new Russian attack.
Well, turning to markets, now, Karen, the clause rally continues around the world On this Christmas Eve, MSCI is All Country World indexes up for a fifth straight day, taking its gains this year to twenty one percent. Steve Quirk is chief brokerage officer at Robinhood Markets.
Coming into the end of the year.
I think still we've seen strength in terms of engagement and people sort of finishing out the year. I think there was a little bit of a concern, you know, in the first part of December, when we had a stretch of down days, if we'd ever get this Santa Claus rally, but it seems to have materialized.
Robinhood Market Stephen Quirk says yesterday's gains were fueled by stronger than expected US growth data and on this Christmas Eve, the US stock market will close early at one pm Wall Street Time.
Nathan, the gold rally continues. It's trading about four five hundred dollars an ounce for the first time ever. Precious metals are ending this year with gains not seen in decades, and Bloomberg Medals reporter Martin Richie says global uncertainty has helped drive this rally.
You know, you can never imagine prices at this level even.
Two years ago, but here we are.
And I think this December rally that you've seen in gold and in the precious metals is really a continuation of the same themes we've seen throughout this year. It's about the debasement trade, growing sort of mistrust in traditional assets of sovereign buns and currencies. It's about the weaker dollar, it's about central banks buying gold because of those things.
Bloomberg's Martin Richie says gold has gained more than seventy percent this year and silver has risen by one hundred and fifty percent, both, along with copper, on track for their best annual performance since nineteen seventy nine.
Got some deal news this morning.
Karen Santafee has agreed to buy California based Dinovacs Technologies for a price tag of two point two billion dollars. The French drug makers trying to expand a vaccines business. It's currently anchored by its flu Shot franchise. The deal gives Santa fe hepatitis B vaccine as well as an experimental shingles inoculation.
Dinavax. Shares in the pre market up nearly thirty eight percent.
Well BP Nathan has a great tost sell a majority of Steak and as Castro Luberkin's division to US investment firm Stone Peak Partners to raise about six billion dollars. The UK oil giant will divest a sixty five percent Steak retaining the remaining investment via a joint venture. BP is shedding assets to reduce debt and turn around years of lagging performance that put the company in the crosshairs of activist shareholder Elliott Investment Management.
Karen.
Shares of Nike are running higher this morning, the stocks up two percent. Barons is reporting Apple CEO and Nike board member Tim Cook has purchased nearly three million dollars of shares of the sporting goods maker. Nike plunged last week on disappointing earnings. On the year, it's down about twenty four percent.
Well.
Speaking of Nike, Nathan, one of the company's biggest sponsored ap athletes, is making a major move. Five time Major champion brooks Keetka has been has become the first player to defect from liv Golf. It's a significant blow to the Saudi funded league that raises questions about whether the PGA Tour will find a way for him to return right now. PGA Tour policy requires players who have joined the rival league to sit out for one year from their last participation.
And sticking in the sports world, Karen specifically sports entertainment, there could be a big payday for Logan Paul, the world wrestling entertainment star and social media influencer, has agreed to sell his rare Pokemon card. It is a Pikachu illustrator that he purchased in twenty twenty one for nearly five point three million dollars. In their estimates that that card will sell for between seven and twelve million. Logan Paul talked about the card with Bloomberg's Romain Bosteg.
Pokemon has delivered higher returns than the stock market in the past twenty years, by upwards of three thousand percent, and so will I think this will probably go for more than I bought it for. It's an auction, but it is the best card in the world.
There's nothing like it.
And Logan Paul accepted a two and a half million dollar advance to sell the card from Ken Golden.
He's the CEO and founder of Golden Auctions.
That card goes on sale market calendar January twelfth.
Time Now for a 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 Barr.
Michael, Good Morning, Good Morning Care in Pennsylvania's governor says an explosion at a nursing home just outside Philadelphia killed at least two people. Tuesday's explosion collapsed a part of the building and happened just as a utility crew had been on site at Bristol Health and Rehab Center in Bristol Township looking for a ghastly Bristol Fire and Rescue Chief Kevin de Palito said people were trapped when part of the first four collapsed into the basement.
They pulled many residents out of the building via windows, doors, stuck in stairwells, suck in elevator share.
Fire Chief Dippolito says rescuers are still digging by hand and using search dogs to locate potential victims. Pope Leo is criticizing his former home state for its passage of a new law on assisted dying. Illinois passed a measure giving terminally ill adults with the broagnosis of six months or less the option to request a medical prescription to end their lives. Democratic Illinois Governor JB. Pritzkers signed the bill into law.
Pope Leo, I'm very disappointed about that.
I would invite all people, especially in these Christmas feast days to reflect upon the nature of human life.
Pope Leo says the Catholic Church teaches that life is sacred from conception until natural depth. New York City Mayor elect Zoron Memdani has announced the city's next fire commissioner. Lillian Bonsignor, who is coming out of hirement as a respected EMS chief, will be the second female fire commissioner, following Laura Cavadac.
I know the job, I know what the firefighters need, and I can translate that to this administration.
Who's willing to listen?
Audio courtesy of ABC seven. Bansignor is also known as a leader in the LGBTQ community. A new Department of Health and Human Services report reveals Medicaid programs made over two hundred million dollars in improper payments to healthcare providers between twenty twenty one and twenty twenty two for people who had already died. Global News twenty four hours a day and whenever you want it with the Bloomberg News Now, Michael Barrn, this is Bloomberg Karen.
Thanks Michael.
Time now for our Bloomberg Sports update, and for that we bring in John stash Hour.
Thanks Karen. Three NFL games on Christmas Day, including the Vikings in Lions in Minnesota, will once again be without quarterback JJ McCarthy. This time it's an injured hand. He has missed twenty four of his thirty three games in the NFL Pro Bowl rosters announced no Patrick Mahomes, no Saquon Barkley. Four teams sending six players to the Pro Bowl. The Broncos, Ravens, forty nine, Ers and Seahawks. The Cowboys, Eagles, Lions,
and Chargers with buying selections. That's a Bloomberg Sports update.
Stay with us more from Bloomberg Daybreak coming up after this.
Coast to coast on Bloomberg Radio, nationwide on Sirius XM, and around the world on Bloomberg dot Com and the Bloomberg Business app. This is Bloomberg Daybreak.
Good Morning of Nathan Hager.
The controversy over the Jeffrey Epstein files could linger over Washington into the new year. The Justice Departments released its latest batch of documents days after the deadline, said in a lot passed last month that slow rollout seems to be frustrating all sides. Joining us for more is Bloomberg's DC Breaking News Editor Alexander Pearson. Alex, great to have
you with us this morning. I wonder if you're expecting more news to break on the Ebstein files into the new year and what we've learned, if anything new, from the thousands of documents that have come out thus far.
Good morning, Good morning, Nathan.
Yes, So yesterday we had the second batch of files. There were tens of thousands that were released as part of that batch, and most notably about them was the fact that President Trump was mentioned a lot more in the second batch than he was in the first batch that was released last week. Naturally, a lot of those mentions, you know, were awkward for the president. There was one record that showed he'd actually taken flights on Jeffrey Epstein's
private jet in the mid nineties. That's something that President Trump has previously denied ever having done. And there were some other documents that also, you know, did not shed a good light on him in terms of, you know, what we could expect from here.
That dupontent.
Justice has said that there are more files that have not yet been released that they're still reviewing, So this, you know, is probably not going to go and way away anytime. Soon, especially with a lot of people demanding that those files be released as soon as possible.
And we've heard the frustration aired by the President about some of the photos being released as well, saying that it's tarnishing reputations to be pictured next to Jeffrey Epstein and all that coming out as well. How is this affecting the president politically? What could it mean for his base that these that these documents continue to roll out.
Yeah, it's it's certainly very awkward for the President concerning is base, given that you know, for a long long time they've been demanding that these files be released and had actually been you know, voicing that despite his attempts earlier in the year to try and you know, or to not order the release of those files, eventually, Congress you know, pressured him into doing so by passing this law that required the Department of Justice to release the files.
But certainly, the fact that the that the Justice Department hasn't released all of the files by the deadline that was set, that we're still seeing new batches coming out is very awkward, given actually that a lot of you know, people in the in the mega base would like to see every file come out full transparency, and it you know, the President and his and the White House seems to be sort of dragging their feet a little bit on doing that.
While we continue to watch the Jeffrey Epstein matter unfold, we've seen a pretty rare moment at the Supreme Court, a setback for President Trump when it comes to one of his National Guard deployments.
That's right, yesterday, the Supreme Court blocked the Trump administration's attempted deployment of the National Guard to Chicago, which is quite notable given that it's sort of the first really major legal setback for him. Other courts had blocked other deployments for the National Guard to other cities, but this comes from you know, the highest court in the land. And yeah, they basically said that he, you know, his administration were invoking a statute that did not allow for
that deployment. And so this latest decision really, you know, does cast a bit of doubt over whether President Trump will be able to continue trying to deploy the National Guard in other cities, or whether he might try to pursue other legal avenues to doing so.
This is Bloomberg day Break, your morning podcast on the stories making news from Wall Street to Washington and beyond.
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And I'm Nathan Hager.
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