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Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today, care.
And we begin with the latest sun efforts to end the war in Ukraine. Russian President Vladimir Putin has refused President Trump's request for a thirty day ceasefire. The Kremlin says Putin agreed only to decrease attacks on Ukraine's energy infrastructure, while imposing several conditions, including suspending US arms and intelligence support for Ukraine. However, the White House readout says Trump and Putin agreed to an energy and infrastructure ceasefire.
Trump spoke last night with Fox News.
Well, you have a situation. We have a lot of guns pointing at each other foolishly because it would have never happened. Ibout, we're president. That was not a war that was supposed to happen, and it did happen. So that's where we are, and right now you have a lot of guns pointing at each other, and the ceasefire without going a little bit for there would have been tough.
Although Ukraine was the focus of the call.
The White House also says President's Trump and Putin discussed improving bilateral ties, including quote enormous economic deals and geopolitical stability when peace has been achieved.
Well, Nathan, there's plenty of reaction around the world to the Trump Putin phone call. Retired Lieutenant General Ben Hodges, the former commanding General of US Army Europe, tells Bloomberg's Balance of Power that he was expecting the worst.
I was expecting that we were going to hear that the President had agreed to recognize Russian occupation of Crimea, agree to Russian demands for elections in Ukraine, and things like that. So the fact that we didn't hear those is is better than if.
We had and retired to Lieutenant General Ben Hodges. To hear the full conversation, download the Bloomberg Balance of Power podcast or watch it on the Bloomberg podcast page on YouTube and Karen.
President Trump is also weighing in on his trade war with Canada, and in his interview with Fox News host Laura Ingram, of.
The nastiest countries to deal with this Canada. The people that now this was Trudeau, the people that good old Justin I call him Governor Trudeau. His people were nasty and they weren't telling the truth. They never told the truth.
Still, the President says he'd rather deal with Justin Trudeau's Liberal Party and the new Prime Minister Mark Carney to.
Resolve his dispute with Canada.
Trump also took a job at the Conservative who will be running against Carney in the next election. He says, Pierre Poulievra is quote stupidly no friend of mine.
Well, Nathan. President Trump may be facing a new dispute with Supreme Court Chief Justice John Roberts. In an extraordinary statement, Roberts said it's not appropriate to call for impeaching federal judges over their rulings. That's after President Trump posted on truth social that the judge who ruled against him on deporting alleged Venezuelan gang members should be impeached. Bloomberg Law host John Grosso says Judge James Bohasburg is not the only one under this kind of pressure.
Impeachment has already been filed against one judge who made a ruling in the Doge case over the Treasury data, and.
So with more calls for this, I think he's just.
Trying to step out there and say this is not the way to go, and it's not the way to go.
As Bloomberg Law host Don Grosso, president Trump is not backing down after Robert's state Many Tollfox News. Many people have called for Judge of boas Burg to be impeached, and.
Later today Karen President Trump will meet the chief executives of more than a dozen oil companies. Industry leaders say they have plenty of reasons to give thanks to the President. He's an unabashed champion of US oil and gas production and has vowed to unleash the industry's potential. However, the President's threatened tariffs are stoking industry concerns about potential economic declines.
Well Nathan, political turmoil is royaling markets in Turkey, The lira and stocks are sinking. In fact, at one point, the lera plunged more than ten percent. Investors are dumping the nation's assets after the arrest of a key rival to President erdiwan Is Denbul's mayor, akram Ima Moglu, has been detained a day after Turkish authorities revoked his university diploma in a move that could bar him from challenging Air Towan in the next presidential election.
Well, you're in the US Karen futures are moving just a bit higher Following another day of losses on Wall Street. The S and P five hundred fell one point one percent the Nasdaq one hundred slid one point seven percent as megacap tech stocks led the market down. Stuart Kaiser, head of US equity trading strategy at City, says there may be more pain ahead.
Is there more to come?
I mean, I think if you're if you believe that a lot of this was driven by policy out of Washington and the key administrators down there are telling you basically to hedge and that there is more to come, and that they're willing to tolerate some short term pain for these longer term structural reforms, then yeah, it does feel like there's potentially more more behind this. It's hard to think that the headlines that have driven this are finished.
City Stuart Kaiser says, options traders are pricing in a one point two percent move in the S and P five hundred either way following today FED decision and.
That decision, Nathan, but the backdrop of all of the geopolitical concerns comes. At two pm Walls Street time, we get a preview with Bloomberg's and Michael McKee.
Expect an underwhelming FED meeting today. No change in the benchmark interest rate, no change in the dot plot, and no major change in policymakers economic forecasts. It's tariffs, of course. The administration doesn't plan to reveal its import tax program until April second. Once it has details, the Fed can start modeling impacts on the economy. But with inflation sticky and the labor market steady, there's not much officials can or should do right now. Michael McKee, Bloomberg Radio.
All right, Mike, thank you for full FED coverage. Be sure to catch Bloomberg surveillance. The Fed decides special It starts this afternoon at one thirty pm Wall Street Time on Bloomberg Radio, Bloomberg Television, and the Bloomberg podcast page on YouTube.
Thank Careen, we got a policy decision out of Asia.
Overnight, the Bank of Japan kept its rates steady, signaling concern about the impact of trade tension and sun the global economy.
Well Nathan, the company involved in the long running litigation over Oxyconton's role in the deadly opioid epidemic, has filed a new bankruptcy case and we get the very latest. It's Bloomberg's John Tucker, John, good morning, Good.
Morning, Karen. This is a new bankruptcy plan from the already bankrupt Purdue Pharma. It could be a major step toward finalizing a seven point four billion dollar opioid settlement. It's aimed at, once and for all, settling thousands of lawsuits that claim Purdue Pharmer's pain medication caused the widespread
opioid addiction crisis. It comes after the Supreme Court last year next a previous attempt at a settlement that would have given Purdue's owners, the wealthy Sackler family, civil immunity. Under this plan, a new public benefit company will be created after Purdue is dissolved, and the Sackler family will no longer have ownership interest. You know, Yorkome, John Tucker, Bloomberg Radio.
All right, John, thank you.
Finally, two NASA astronauts who been stuck on the International Space Station for nine months have returned home.
And splashdown Crew nine back on Earth. SpaceX.
Mission control caught the moment, Butch Wilmore and Sunny Williams landed off the Florida coast and a dragon capsule and remarks heard here on Bloomberg. NASA manager Steve Stitch says the return trip could not have gone better.
The cruise to one great.
You know, they'll spend a little time on the recovery ship getting checked out, making sure that they're healthy and ready to go, and then eventually they'll make their way back to Houston.
The splicetown ends a long saga for Wilmore and Williams. It began last June when the pair were supposed to stay on the ISS about a week. An issue with their Boeing vehicle kept them in orbit till last Sunday night.
It is 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 And A federal judge ruled that the dismantling of the US Agency for International Development likely violated the Constitution in an order that blocked Elon Musk's Department of Government Efficiency for making further cuts to the agency. The judge ordered the Trump administration to restore email and computer access to all employees of USAID, including those who were placed on administrative leave. The lawsuits singled out Musk
as a defendant covered by the preluminary injunction. Unredacted documents related to the nineteen sixty three assassination of President John F. Kennedy had been released following an order by President Trump shortly after he took office. The documents were posted on the website of the US National Archives and Records Administration last night. University of Virginia Center for Politics Director Larry Sabado says it will take a long time to go through the new material.
They're going to be surprises in there, but I just don't think there are going to be that many surprises about JFK's assassination.
There are also never before seen memos outlining how the CIA tapped phones in the Mexico City embassies visited it by Lee Harvey Oswall months before the assassination. Senate Minority Leader Chuck Schumer is responding to the criticism from fellow Democrats that he cave to Republicans and voted for a GOP bill that would keep the government open through the
end of September. Schumer says if the bill didn't pass, a government shutdown would have given President Trump and the rest of the executive branch unchecked power to slash even more federal jobs and programs. Schumer on ABC's the view, if we ended.
Up a shutdown three weeks from now, people would come to me and they'd say, they just cut off my Medicaid, they just got rid of my veterans benefits. Stop it, And I say we can't we in a shutdown, and then they'd say to me, why did you let the shutdown happen.
Senator Schumer also says President Trump's acknowledgment of his vote online was trolling. Finally, former Governor Andrew Cuomo raised over one point five million dollars from twenty seven hundred donors for the New York City mayor's primary race. Polls show him leading heading into the June t twenty fourth primary. Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Michael Barr, and this is Bloomberg Karen.
All right, Michael Barr, thank you time now for the Bloombergy Sports update, brought to you by try State Oudie. Here's John stash Hour, John, good morning.
Good morning, Garon.
Over the next three weeks, there'll be sixty seven and CUBAA tournament games.
The first was in Dayton, Ohio.
It was Alabama State out of the Swack against Saint Francis of Pennsylvania, who won the nec had a sub five hundred record. The game not decided until the final second.
They have to go ninety four feet.
Simpson will inbound under his own basketball, but Ato.
Pressures the ball. He throws a baseball right.
Half past, arking to the bar Free provide exclusion to the basket Bucks suber Totos tucking the call.
O bar Bucks ca Babama State comer on westban one march Man. This Bama State wins seventy to sixty eight. It's reward a game tomorrow. It's the Attorney's top overall seed Auburn. Many criticized the committee for including North Carolina Tarrios looked awfully, deserving a ninety five sixty eight rout of San Diego State. The White Plains native RJ. Davis scored twenty six. He was six for six on three pointers. Tarriols will play
Ole Miss on Friday. Two more games in Dayton Tonight at the Garden Artemi Panarans scored a minute thirteen in his thirtieth goal. The Rangers failed to score again, lost to Calgary two to one, and when Montreal won, the Canadians moved ahead for the last playoff spot in the East. Montreal's played two fewer games. Islanders a four to two win at Pittsburgh. The Capitols beat Detroit four to one.
The Celtics gave Jason Tatum and Jalen Brown the night off, still beat the Nets one O four ninety six.
That's Boston's fiftieth.
When the Warriors gave Steph Curry the night off, they still beat Milwaukee one O four ninety three. Since winning sixteen in a row, back to back losses for Cleveland beaten by the Clippers, the knickser in San Antonio tonight, Dodgers and Cubs getting ready to play again at the Tokyo Dome. LA won yesterday four to one, holding the Cubs to three hits with Garrett Cole out. Max Free the new year nikee eighth in Tampa against the Red Sox,
Free through four to third score is Senians. Brandon Graham, retiring after fifteen seasons in Philadelphia, played more games than anyone in Eagles history. John Staishaw or Bloomberg Sports Karen Nathan 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. I'm Nathan Hager.
President Donald Trump is casting it as a win to have held a phone call with Russian President Vladimir Putin. He did not get the thirty day ceasefire that he'd agreed to with Ukraine, but the President says the concessions Putin did make are a good first step.
You have a lot of guns pointing at each other, and the ceasefire without going a little bit further, it would have been tough. Russia has the advantage, as you know, they have encircled about two five hundred soldiers. They're nicely encircled, and that's not good.
President Trump speaking with Fox News host Laura Ingram last night. This morning, we're speaking with raw Lind Mathis and Bloomberg's News director for Europe, the Middle East and Africa. Good morning, Roz. So, no thirty day ceasefire from President Putin. Where do things stand now?
Well, that's right, So Donald Trump did not get Vladimir Putin to commit to a full thirty day seas far. What he seems to have agreed to is potentially to stop targeting Ukrainian energy infrastructure for thirty days and to say that he would agree to that if Ukraine did the same. But we don't have a lot of details even about that. We know that Russian and US officials are due to meet in Saudi Arabia again starting today and there'll be more conversations around some of those details,
but it's a pretty incremental step in the end. I mean, obviously Russia has had a lot of success targeting energy infrastructure in Ukraine that's been very damaging for Ukraine, especially through things like the winter months, but equally it's nowhere near the full far that Donald Trump is looking for. So it seems to be that Putin gave Trump a
little bit but didn't give him a lot. And it's very clear that Vladimir Putin has a lot of other demands in all of this and conditions that he's going to what met in terms of agreeing to a full cease fire, and perhaps he would only do that if he had a meeting with Donald Trump face to face.
Is there concern among European allies that President Trump could give in two more of President Putin's demands.
Well, something that's been the concern for quite a while, and indications from the US in fact that Trump would be willing to do that, just the way that he talks about territory and he refers to things like assets when it comes to Ukraine, including a key nuclear power plan, and indicating that he's not averse to listening to Vladimir Putin and his demands there, So around territory, around the nuclear power plant, perhaps even recognizing Crimea as part of Russia.
Of course, Vladimir Putin annexed Crimea well before he went into the rest of Ukraine. So a lot of concern that in order to get a deal, that Donald Trump will be willing to listen to some of Vladimir Putin's demands. And then how can Europe and Ukraine, most importantly of all, get in the conversation on that or is this really the US and Russia agreeing to broad parameters and then essentially presenting them to Ukraine and to Europe as a fate to company. So the question is can they get
a set at the table. It just doesn't seem that Donald Trump is interested in Europe having one.
So as the negotiations potentially continue between the US, Ukraine and Russia, we have new political turmoil in Turkey. What is happening there this morning?
Well, that's right. So there's been a bit of a crackdown on the opposition that's been going on for some weeks, if not months in Turkey, and it's escalating quickly today though, because we see that Turkish authorities have detained President Erduan's dominant rival. This is the mayor of Istanbul ekrem Imamolu, who's really a very popular politician in Turkey and seen as the most likely contender against Duwan in the next election, which is due in twenty twenty eight. And so he's
been detained today. That the pretext for that is obviously that he didn't have the qualifications to run for president in the next election in twenty twenty eight, that his qualifications for a high degree void, and there's also part of a broader soup of inappropriate actions inside Turkey, which is something that he denies. But this would all rule him out from being nominated as the opposition candidate. And you can see the impact on the markets in Turkey today as a result.
This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond.
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