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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 new tensions in Minneapolis. There's been another shooting in the city, a week after an Immigration and Customs Enforcement agent shot and killed a woman and set off nationwide protests. The Department of Homeland Security says one of its officers tried to arrest a man during a targeted traffic stop, but he ran into a parked
vehicle and fled on foot. The officer caught up with him, but then Minneapolis Police Chief Brian o'harris as two other people came out of an apartment and started attacking the officer.
During the struggle, the federal agent discharged his weapon, striking one adult male. The adult male then retreated inside of the residents, where he remained inside and refused to come out.
Minneapolis Police Chief Brian o'harris says all three were eventually taken into custody. Both the office and the man who was shot are in the hospital. DHS says that man is a Venezuelan who entered the US illegally. Minnesota Governor Tim Waltz is condemning the ongoing enforcement surge in his state.
Let's be very very clear, this long ago stopped being a matter of immigration enforcement. Instead, it's a campaign of organized brutality against the people of Minnesota by our own federal government.
Governor Tim Waltz delivered a primetime address to Minnesota right around the time of this latest shooting.
We want to turn to US foreign policy now, Nathan. And there's no end to the tensions between the US and Denmark. After a high stakes meeting in Washington over Greenland, Danish Foreign Minister Lars Logan Bresmussen says there's still a fundamental disagreement over who gets to control the semi autonomous territory FOSS.
Ideas that would not respect territorial integrity of the Kingdom of Denmark and the right of such dissemination of the Greenlandic people are of course totally unacceptable.
Well. Danish Foreign Minister Lars Laga Rasmussen says he's agreed to set up a working group after a meeting with Secretary of State Marco Rubio and Vice President JD.
Vance.
Denmark has also announced plans to beef up its military presidence in the Arctic. Sweden, Norway, and the UK are also sending troops to Greenland, and Germany says it'll send more than a dozen personnel to the island to explore their own military contribution.
Turning to the war in Ukraine now Karen, President Trump faults Ukraine's leader Vladimir Zelenski as the main obstacle to an agreement to end the war that Russia launched against his country. In an interview with Reuters, the President described Russian President Vladimir Putin as ready to make a deal. When pressed on what was impeding in agreement, the President replied Zelenski, Well.
Let's get to the latest developments in Iran. Nathan, President Trump is indicating he might hold off on attacking the country. The President says he has been reassured the government in Tehran would stop killing people involved in protests. Begin more from Bloomberg Middle East respondent Jumana Bursecci.
You don't exactly know who he's spoken to, who's given him those reassurances. And again, as we've been reporting, it's very difficult and challenging to get live information from the ground in Iran because of the communications blackouts. That human rights agencies estimate that the death told continues to climb, and we're sitting closer to something like three thousand people.
And Bloomberg middle aged correspondent Jumana Burcecci there, we are seeing an impact on the oil market right now. Crude is falling. Nim excrude oil and Brent both down more than four percent when nim Ex screwed at fifty nine dollars twenty eight cents a barrel.
Here and there are new developments this morning and the Justice Department probe into the Federal Reserve. Bloomberg's John Tucker has been following that and joins us now with the latest. John, Good morning, Good morning Nate.
President Trump now insists he does not plan to fire Federal Reserve Chair Jerome Pwell. In an interview with Reuter's Trump saying quote, I don't have any plan to do that. Still, The President said he had not a rhyme to at a conclusion about whether it's Justice Department probe of the FED would give him grounds to oust the FED chair, saying it's too early to say. Well, the pushback of
the probe has been fierce. Republic Considator Tom Tillis sent down with Bloomberg balance of power, repeating his concern the DOJ's criminal probe threatens FED independence.
It's remarkable to me that someone in the DOJ would move without the President's knowledge, but apparently they did. But look, if suddenly the threat of a lawsuit can take a chair out of play, how can anybody think that that's anything more than a de facto ending the independence of the Fed. And we all know what that does to markets worldwide.
Well, Tillo's has sent he would block FED nominations until the investigation is resolved. In response to Republican lawmakers like Tillis who are criticizing the FED investigation, President Trump responded, I don't care and quote they should be loyal in New York. I'm John Tucker Bloomberg Radio.
Right, John, thank you. Let's turn to the markets now, where the S and P five hundred saw its first back to back losses in twenty twenty six than ASDAK, dropping one percent. It was its worst decline in a month, and it is lined in all Magnificent seven stocks. New Edge Wealth chief investment officer Cameraon Dawson sees more volatility ahead.
Noting that we are in the fourth year of a bull market, and that's where you get a fifty to fifty chance as to whether or not it extends into a fourth year. And also note that this fourth year is coinciding with a midterm electioneer, which also tends to have both a higher volatility and lower returns than the other years during the election cycle. So fourth year bullmarket midterm electioneer that would suggest expect more volatility and lower returns.
Despite the increased volatility, New Edge Wealths Camera in Dawson expect stocks to end the year higher.
Well tech stocks leading the games this morning, Karen, following news from Taiwan's semiconductor manufacturing TSMC, gave us stronger than anticipated outlook for twenty twenty six, signaling its confidence in the longevity of the global artificial intelligence boom, and shares in keys of Plrier ASML holding sort to a record in Europe this morning, sending its market value above five hundred billion dollars, and in Nvidia shares this morning are
up one and a half percent. Crew of four astronauts has landed back on.
Earth, splashdown of Crew eleven after one hundred and sixty seven days in space. Dragon and NASA astronauts a Xena Cardman and Mike Fink, Kimya Yuei of Jackson, and russ Cosmos cosmonaut al At Platinum are back on Earth now.
Those astronauts on doct from the International Space Station aboard a SpaceX Dragon capsule. This morning, they splashed down off the coast of California, cutting their trip early by about a month because of a medical issue on board. NASA is not disclosing the name of the astronaut or the nature of the medical issue due to privacy concerns. The agency is working to accelerate the arrival of the next crew, which could be as early as the middle of next month.
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 bar Michael, good morning.
Thank you very much, Karen. Vice President JD. Vance cast the tie breaking vote in the Senate on the Venezuela War Powers Resolution. A group of senators voted with all Senate Democrats on the resolution, which would have blocked the use of US armed forces within or against Venezuela unless authorized by Congress. Vans's vote means the resolution dies.
On this vote, the yaser fifty, the nayser fifty, the Senate being equally divided. The Vice President votes affirmative in the point of order is sustained.
Two Republican senators who previously supported the measure ended up voting against it, Senators Josh Holly and Todd Young. Senate Minority Leader Chuck Schumer argues that this leaves the door open for President Trump to start another forever war.
Make no mistake about it.
This vote makes things more dangerous, not less.
It emboldens Donald Trump to push further down this reckless path.
Followed finary phone calls from President Trump to pressure GOP defectors who last week voted to advance the resolution. It is now day four of a nurse's strike in New York City. There's no word of any imminent negotiations. About fifteen thousand nurses walked off the job Monday from the city's three major hospital systems, Mount Sinai, Montefior and New
York Presbyterian. The New York State Nurses Association union is calling for better pay, better benefits, and protection from workplace violence. A meazle's outbreak is growing in South Carolina. State officials say there have been public exposures in places like retail stores, churches, and restaurants. Department of Public Health state epidemiologists doctor Linda Bell.
We're also seeing ongoing transmission and households where entire households of people who are unvaccinated are being infected.
Doctor Bell says, so far, four hundred and thirty four cases have been reported in the South Carolina outbreak, with over two hundred reported just one week. Global News twenty four hours a day and whenever you want it with the Bloomberg News. Now, I'm Michael Barn. This is Bloomberg Karen.
Thanks Michael. Time now for our Bloomberg Sports update, and for that we bring in John stash Hour.
Thanks Darren. Nine NFL teams we're looking for a new head coach, and it looks like the first team to make a hire will be the New York Giants. They met yesterday with John Harbaugh, who spent the last eighteen years in Baltimore, where it is they are working to finalize a deal. Quarterback Dante Moore has decided to stay in school. He'll be back with Oregon rather than turned pro. He was projected as perhaps being the number two pick
of the draft. A baseball free agent signing, starting pitcher Ranger Suarez, formerly with the Phillies, signed with the Red Sox. That's your Bloomberg Sports update.
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Good morning, I'm Nathan Hager. The Trump administration does not appear to be backing off its demands to take over Greenland. After a high stakes meeting in Washington with the Vice President and Secretary of State, Danish Foreign Minister Lars Loga Rasmussen says a fundamental disagreement remains.
Greenland for the time being and for sleep and future will remain within the Kingdom of Denmark.
That was the Danish Foreign minister after the meeting with JD Vance and Marco Rubio and joining us from Brussels this morning is Bloomberg Chief Europe correspondent Oliver Crook.
All.
We saw images of the Danish and Greenlandic foreign ministers coming out of that meeting doing fist bumps. But now it appears the meeting did not go so well. So where do things stand.
Now, Yeah, there was a lot of videos of them. There were also saw a few videos of them chainsmoking, sort of going in and out the meetings and maybe highlighting some of the stress that they've been under in the last couple of days in those meetings with jd Vance and Marco Rubia. Listen, I think the headline is what we heard, there's the fundamental disagreement still remains. This
is what we heard from the Danish foreign minister. He said that effectively nothing has been resolved at this point, that the discussions were frank and constructive, which obviously is just diplomatic speak for potentially not a whole lot getting done. Again, the sort of starting position for the Danes for Greenland is basically not in any material change to the status
quo legally. They say that the framework that exists currently governing the relationship between the United States and Greenland between under this treaty from nineteen fifty one, which is again gives very expansive powers to the United States in the way that it can sort of behave and deploy its troops and military operations within Greenland. They say that that is adequate to sort of secure the territory from any sort of potential hostile activity from the Chinese, from the Russians,
which is what we've been hearing from Donald Trump. They're trying to de escalate the situation. They said that they're now going to start this working group, and I thought it was interesting that the Danish Foremas just said that the working group would be there to explore if if they can find a common way forward, because that is certainly not assured.
And in the meantime, we have europe nations beginning to send forces to the Arctic, including Greenland, led by Germany. I mean that alone is significant.
It is significant. I think right now it's much more of a symbolic gesture than anything sort of material from the military heft front. It's a lot of exploratory missions. So we have the Germans leading it. He was thirteen soldiers that arrived yes or today, I should say yesterday. Sweden send a few officers, the UK Norway. We also have the French. They're opening a consulate actually in Greenland
starting in February. They say that that is going to be a diplomatic and political message, a signal that they would like to send, but we should say, you know, this is all about trying to explain, explore different frameworks that the Europeans could potentially construct in order to assuage some of the fears of the President of the United States. But it's also when you have more and more international
forces on this territory. Again, we don't really believe that the United States is going to launch a military campaign, but potentially that gets more difficult when you have representation from a number of different NATO allies. So maybe not a military determ, but potentially a diplomatic deterrent.
Just thirty seconds left, Oliver, what is the European sense about the status of NATO, the strength of NATO right now.
I think they're very concerned by what they've seen, particularly in the last couple of weeks. I mean, we just had the ambassador from Belgium or to Belgium from the United States on our air this morning. I was speaking to him and so was our colleague Stephen Carroll here in Brussels, and basically talking about what is the nature of American friendship to the European Union at this stage, and that is a question he's getting from a lot
of different sort of diplomats. He was there to basically reassure that this is a United States that stands firmly behind NATO, that the Donald Trump is a big fan of NATO, and that he believes in it as a strong alliance. It is the most important alliance that the
United States has. But frankly, speaking the way that the President has been speaking on some of the rhetoric, he used some of the same exact language about going the easy way in the hard way on Greenland as with Venezuela, that does not reassure European allies at all.
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