Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today.
Karen, we begin with President delect Donald Trump making key position announcements as he starts to form his second administration. In a social media post, Trump said he will install Tom Homan as a border zar with oversight over immigration, maritime, and aviation security. We get more from Bloomberg News Senior editor Bill Ferries.
Tom Homan used to run the Customs Enforcement Agency. He was really the guy partly responsible for this family separation policy that defined Trump's position policy at the US Mexico border. He will be some kind of a border czar, which means he won't have to face Senate confirmation and can try to run things right out of the White House next to the President.
Bloomberg's Bill Ferries says the President delect is expected to use who's are like positions to concentrate power among loyalists in the White House, giving appointees broad discretion over government departments and agencies to implement his agenda.
Well, Nathan, Donald Trump is also turning into a key member of leadership in Congress. To be his next UN ambassador. The President elect told The New York Post and his Statement that he's naming New York congressom and at LEAs Daphonic to the position. Steffonic is currently the fourth ranking Republican in the House and is one of Trump's highest
profile allies on Capitol Hill. She was one of the one hundred and forty seven House Republicans who voted against certifying President Biden's win in twenty twenty, and she was the first House member to endorse Trump's twenty twenty four run.
Karen Republicans are edging closer to winning control of the House and pulling off a clean sweep, with two hundred eighteen seats needed to keep their majority. The Associated Press has called two hundred thirteen races for the GOP, and the latest is Arizona's first District. Republican incumbent David Schweikert held on against Democrat Ame Shah with fifty two percent
of the vote to forty eight percent. Nineteen House races are still in play, Many of them are in California, which takes longer than most states to count it's absentee ballots.
Well Nathan President Biden will host President ELEC. Donald Trump at the White House this week for the first post election meeting. They'll meet at the Oval Office at eleven a m Eastern on Wednesday. That will be setting in motion that transition of power that would be completed in January.
And at that meeting, Karen Biden is expected to argue in favor of continued usaid to Ukraine. White House National Security Advisor Jake Sullivan spoke on CBS's Face the Nation.
Of course, President Biden will have the opportunity over the next seventy days to make the case to the Congress and to the incoming administration that the United States should not walk away from Ukraine. That walking away from Ukraine means more instability in Europe, and ultimately, as the Japanese Prime Minister said, if we walk away from Ukraine in Europe, the question about America's commitment to where allies in Asia will grow.
The White House National Security Advisor Jake Sullivan's comments come as Trump's election victory and Republican control of potentially both houses of Congress raise questions about the future of US support for Ukraine.
May Weil Nathan Trump reportedly spoke of the Russian President Vladimir Putin. Last Thursday, two days after the election, The Washington Post is reporting Trump advised Putin not to escalate the war in Ukraine. This morning, the Kremlin is denying the two leaders spoke. During his campaign, Trump said he would bring an immediate end to the conflict.
Cern markets now karen Us. Bond markets are closed because it's Veterans Day, but stocks they're coming off their best week of the year, rose four point seven percent during the election week, with the S and P five hundred hitting its fiftieth record this year. Monama Hadjen, senior investment strategist at Edward Jones, says the equity rallies broadening across various sectors and expects that to continue post election.
We do think that that broadening of market leadership theme does have legs independent of what was happening in politics. We were seeing lower Fed funds rate, lower interest rates, as well as a earnings expansion driving that story. We think the addition of those pro growth policies add some fuel to that fire.
Monimahadgen of Edward Jones says the equity rally could broaden further if some of presidents elect Trump's pro growth policies are pasted.
And Nathan, we are seeing some of the Trump trades still in effect. This morning, Bitcoin hitting another all time high. Bloomberg Markets reporter Valerie Title sys the move is very clearly linked to Trump's election win.
Since the first of November, Bitcoin has rallied fifteen percent overnight across the eighty one thousand level mark, up another percent so far in this morning's trade. Trump is seen as very friendly to cryptocurrency assets, and then pair that with the fact that he's teamed up with Elon Musk. That seems very positive for cryptocurrencies generally, and we've seen Bitcoin not wait for any further clarity but take a leap higher on that.
And Bloomer's Valery Title says Bitcoin is sored by more than ninety percent in value this year.
And earning seasons winding down. Karen, But we do get reports from nearly a dozen companies in the S and P five hundred this week.
Including home Depot.
Let's get a preview now from Bloomberg's Charlie Pellett.
Bloomberg Intelligence says the home improvement retailers same store sales are expected to slide for an eighth consecutive quarter as lower existing home sales continue to challenge sales. BI says the impact of hurricanes may add a revenue boost and increased costs in subsequent quarters. So far this year, the stock is up seventeen point one percent. Twenty nine analysts say it's a bye, eleven say it's a whole, and four say it's a cell. In New York, Charlie Pellett, Bloomberg Radio.
All right, Charlie, thank you. Turning to the economy, Minneapolis Fed President Neil cash Carey says, the economy remains remarkably strong, but inflation still remains.
We need to finish the job.
We want to have confidence and inflation is going to go all the way back down to our two percent target.
And Minneapolis Fed President Neil cash Carey made the comments on CBS's Face the Nation Catch the program Sunday afternoon on Bloomberg Radio, and it is time now 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 John Tucker, John goodburning.
Man, Good morning, Karen. Just a week after Donald Trump's resounding election victory, Manhattan judge is poised to decide whether to uphold the hush money verdict against him or dismiss it. That's because of the US Supreme Court decision back in July that gave presidents broad immunity from criminal prosecution. Judge wanmer Shaan has said he'll issue a written opinion on Tuesday.
Nearly two hundred nations meeting at the annual United Nations Summit this week must now consider how to avoid catastrophic climate change without help from the world's biggest economy. Donald Trump is found to take the US out of the landmark twenty fifteen Paris Agreement once again, his presence will loom over negotiators, even though he won't be at the COP twenty nine Climate conference in person. Ft X file the lawsuit against Anthony Scaramucci and his hedge fund, Skybridge Capital.
Let's get more from Bloomberg's than East Pellegrini.
The lawsuit against the former White House Communications director is part of a broader effort to claw back money for creditors of the bankrupt company. FTX alleges during the crypto winter of twenty twenty two, founder at now jailed Sam Bekminfried engaged in a campaign of influence buying, and the bankrupt crypto firm alleges bankmin Freed invested sixty seven million dollars into various Skybridge endeavors. FTX is now seeking to
recover more than one hundred million dollars in damages. Denise Pellgritty, Bloomberg Radio.
Global News twenty four hours a day and whenever you wanted with Bloomberg News. Now, I'm John Tucker, and this is Bloomberg. Karen.
All right, John Tucker, thank you time now for the Bloomberg Sports Update, brought to you by tri State OUTI here's John stash Hour, Johnkin morning.
Good morning. Here in the NFL Sunday Begain in Munich, where the fans were drinking and singing songs, didn't seem to mind. They were watching a pair of two and seventeens. They saw Carolina take a ten point lead, the Giants rally in the fourth quarter, so I forced overtime and then won the coin flip to get the ball first. Tyrone Tracy fumbled on the first play and the Panthers won twenty to seventeen. Tracy, to his credit, owned up after the game.
I'm put a lot into this game. You know, well, swat and tears, you know, the same everybody say. But like I play with passion. I felt you could see it on the field. I have a lot of energy and I hold myself to a hot standard. So when you know, when things like that happened with the game on the line, you know, and overtime come all the way back, like you know, that's the last thing in your mind that you want to happen.
Giants go to the Byeway with a five game losing streak. Later, it was the Jets getting wallowed by the Cardinals thirty one to six. Arizona score touchdowns on their first three possessions. Kyler Murray twenty two of twenty fours. The Jets dropped to three and seven. Look like Kansas City would suffer its first loss. Denver lined up for a game winning field goal.
Fox witting for the snap place winners down.
Let's just take us goods, just.
Gotta stay undefeated.
One of six ' five. The Wolf Jeeps won sixteen fourteen. They're nine to oh Detroit eight and one. Didn't look good last night for them in Houston, Down twenty three seven at half time, the Lions roared back to win. Twenty six, twenty three. Jake Bates, who kicked the game tying fifty eight yard field goal, kicked the fifty two yard to win at Pittsburgh, Stay's atop the AFC North twenty eight, twenty seven at Washington, the Commander's Paul at
a first. Philadelphia takes the lead with a thirty four to six route in Dallas, Jalen Hurts two tds passing two running Patriots one with a dominant defense nineteen to three. In Chicago held the Bears one hundred and forty two yards. Knicks lost. In Indiana won thirty two one twenty one. Pacers made twenty one three pointers. Nick's had only seven Miami Marlins named Dodgers coach Clayton McCullough their new manager John Stash. That were Bloomberg Sports Karon 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 making quick moves to fill out key positions for his second term. They include a new border czar former acting ICE Director Tom Homan, who may have hinted at his approach at the Republican National Convention back in July.
Has a guy who spent thirty four years departing illegal aliens. I got a message to themands of illegal aliens that Joe Biden's releasing our country and violation.
Of federal law, you better start packing now.
Joining us for more on the president elect policy moves and more from the nation's capital, we are joined by Bloomberg News senior editor Bill Ferries.
Bill.
Good morning. For those for whom Tom Homan is not necessarily a familiar name, what does his appointment suggest about how President elect Trump could approach the immigration issue in his second term.
Well, I think it tells you first how important this issue is to President elect Trump. I mean, he is really outside of his chief of staff Susie Wiles is Tom Homan is one of the first names that the President elect has announced, So it's clear he's moving quickly on that. It's clear it's going to be a priority. And Tom Homan may not be a household name, but
his policies are certainly well known. He was really the author of the family separation policy that was so controversial during President Trump's first term, and he has been a staunch defender of that approach even back since it started in twenty eighteen. So I think it tells you how
important it is. I think it tells you how quickly President Trump wants to move and the fact that he's going to be kind of a czar based in the White House means there's no there won't be any need for a Senate confirmation process, so he can start essentially on day one with the president.
Is there a suggestion then that the border zar could be a more powerful position under a second Trump administration than the Senate confirmable positions willd to immigration and border security.
Well, certainly, I mean, we'll have to see how other positions come out, but there is a sense that, perhaps, having learned from his first term, President Elect Trump is going to have a number of people who have czar like titles based in the White House, essentially senior advisors or senior counselors who may in fact have more influence than agency heads or even cabinet secretaries in some cases.
Interesting as well, that we're hearing one of the first Senate confirmable positions that President elect Trump has announced is for United Nations Ambassador, and he's turning to a pretty staunch loyalist on Capitol Hill to fill out that post.
Yeah, he's turning to a Congresswoman Elise Stephanic, someone who was really kind of more of a moderate Republican in her early years in Congress, but who made a sharp turn became a big defender of President Trump in the second half of his term. Was someone who you know, opposed his votes of impeachment and was actually I think the first member of Congress to or one of the first to endorse him for a third term ahead of
this year's election. So a true loyalist, someone who will likely sit in the cabinet as a as a UN envoy, and someone who you know, the president president elect feels like he can trust wholeheartedly.
For the President to like to pick someone on Capitol Hill Republican in the House, does that suggest some kind of confidence that president like Trump feels like the Republican Party is going to hold on to the House. It's still not quite called just yet terms of the majority.
It's not called. We have the latest that in terms of called races two hundred and thirteen Republicans to two hundred and three Democrats. There was one more Republican seat that was called in Arizona about seven hours ago. But it does look like Republicans are leading in most of the in the remaining seats by and large, So there is a lot of confidence on the Republican side that
they will hold the Congress the lower the House representatives. Now, remember, holding it with a narrow lead can be just as challenging as as as not having the majority.
In some cases.
We've seen Mike Johnson really struggle on in some situations to get his caucus to vote. He's needed Democratic support in a lot of cases. So, but you'd rather have a slim majority rather than a slim minority heading into heading into the next you know cycle here.
Got about a minute left bill. What to make of these now conflicting reports that President elect Trump had a phone call with Vladimir Putin of Russia just about two days after the election.
Yeah, you know, there was a Washington Post story saying that President Trump had a call with Putin and then he warned the Russian president against escalating the war in Ukraine. You know, we don't have any confirmation of that. Ourselves. It would not be a surprise there. Now, we've seen reports that from Bob Woodward that former President Trump may have had a number of calls with Vladimir Putin during
his four years away from the White House. He has promised to end the war in Ukraine before taking office, so this would be in line with that. We know he did speak with the Ukraine President Zelenski, so it is entirely plausible that they've had this talk and that they'll have more talks before President Trump.
Was sworn in.
This is Bloombergy 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. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg.
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