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Good morning, I'm John Tucker and I'm Karen Moscow. Here are the stories we're following today, and.
Karen, let's begin with new developments in the efforts to end the war in Ukraine. Russian President Putin says he's going to revise his country's negotiating position and reclaiming Ukrainian drones targeted his residence. According to the Kremlin, Putin told President Trump of his decision at a call yesterday. The President talked about it with reporters in Florida.
It's one thing to be offensive, because they are offensive. It's another way to attack his house. It's not the right time to do any of that and can't do it. And I learned about it from President Bunt that was very angry about it.
Putin said Moscow intends to work closely with the US on peace efforts, but would reconsider a number of previously reached agreements. The Ukrainian President, Vlaud Brinzelenski dismissed the US and claims as a new lie and warned that Moscow could be using it as an excuse to prepare an attack on government buildings in.
Kiev, well John. President Trump has threatened to strike Iran again if the country builds its nuclear capabilities. Speaking as he met with Israeli Prime Minister Benjamin Netaniahu, President Trump expressed concern that Iran is seeking to revive its nuclear program.
Now.
I hear that Iran is trying to build up again, and if they are, we're going to have to knock him down. We'll knock him down. We'll knock the hell out of them. But hopefully that's not happening. I heard Iran wants to make a deal. If they want to make a deal, that's much smarterer. You know, they could have made a deal the last time before we went through, you know, a big attack on them.
And President Trump also said he would support Israel and striking Iran if it continued with its ballistic missile program.
And President Trump says the US struck a facility inside Venezuela, it would be a significant ensculation in the campaign against alleged drug trafficking operations there. Trump's reference to an attack within Venezuela would mark the first time the US has announced a land strike in that country. The administration has raised pressure on the government of Nicholas Maduro by bombing boats in the region and implementing a blockade to disrupt the country's oil exports.
John hours after President Trump downplayed at China's military stage. Day, second day of large scale military drills around Taiwan this morning, had fired dozens of rockets into waters near Taiwan. China's latest exercise has come as President Xieshin paying ramps up military and diplomatic pressure on self ruled Taiwan. It also comes days after the US announced one of its biggest arms packages ever for the self run democracy.
And let's turn to the markets, where futures right now they are mixed Following gainst day's declines on Wall Street, the SMP five hundred fell three tenths of a percent. The NAZAC dropped half a percent. Still, it's been a good one for the bulls. The SMP five hundred up more than seventeen percent so far this year. Chris Campisisis is a managing partner at Barnum Financial Group.
The reality is, if we look at how the last time we had four double digit up years in a row that didn't end so well, right, That ended with the dot com bubble burst, and so if we're going to see another double digit, high momentum, high growth kind of year, we're going to need some kind of goldilocks economic and stock performance in order to do that.
Barnham Financial Groups Chris campizzis global equities remain on track for a third straight and you'll gain with msci's world gauge up around twenty one percent in twenty twenty five.
So John, what's the outlook for a stocks in the new year. Bloomberg's Tom Busby has a look in what the big banks and boutique investment firms are expecting in twenty twenty six.
Despite worries about a possible artificial intelligence bubble, the Fed's next move on interest rates, and unanticipated shocks from President Trump's second year in office, the consensus for the new year on Wall Street is that the stock market will continue to rally to new heights in twenty twenty six for a fourth year in a row, making what would
be the longest winning streak in almost two decades. In Bloomberg survey of sell side equity strategist, the average year and forecast for the S and P five hundred implies another nine percent gain next year. Tom busby Bloomberg Radio.
Thanks Tom, and we're seeing a rebound and commodities found againstday's wild ride. Both gold and silver or higher. Silver is suffering its biggest one day dropping more than five years, falling nine percent. Vatley Tittel covers the markets for Bloomberg.
It was absurdly stretched on some technicals that we knew. It was trading a eighty percent above its two hundred day moving average, and its relative strength indicator or RSI was nearly at ninety. I mean, those are things we haven't seen since the late seventies when it comes to silver. So yes, it was stretched, but look, maybe it's stretched
for good reason. The fact that on January first, China is going to be putting in export restrictions, so anyone hoarding silver from Hong Kong from mainland China needs government permission to do so.
Well, despite yesterday's pull back gold and silver, they do remain on track for the best annual performances since nineteen seventy nine. Checking gold and silver right now, silver op three point three percent. Well, gold is up just about one percent.
Well, John, President Trump is once again turning up the pressure on fetchair J Powell. He told reporters that he has a favorite to succeed Powell, but he won't name that person until next month. President took it a step further, saying he's weighing a lawsuit against Powell.
We're thinking about bringing a gross incompetence what's called gross incompetence lawsuitans gross in competence against Powell. And it was his baby. And the guy's just incompetent. There is nothing you can do about it. He's just very incompetent man.
President Trump also suggested Powell should resign, adding that he might still fire him. Trump has long criticized Powell's handling of interest rates, saying the Central Bank has not acted aggressively enough to bring borrowing costs down. Pomo's current term as chair runs through May twenty twenty six. 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, Karen.
The FAA and the NTSB continued to investigate a deadly midair collision between two helicopters that happened southeast of Philadelphia over the weekend. Each aircraft had just taken off from the Hamilton Municipal Airport in New Jersey late Sunday morning. Diane Kloof saw it happened.
I say myself, my god, I hope they're just flying too close.
I hope they don't clip each other.
And the minute I said it to myself, the impact occurred.
One of the helicopters erupted in flames. People living nearby raced to the crash site to help. Seventy one year old Michael Greenberg was dead at the scene. The other pilot, sixty five year old Kenneth Kersh, briefly survived the initial impact but was later pronounced dead at the hospital. Gas prices have been falling over the past few weeks. One reason is because demand is slower during the holiday season.
Patrick Dehan with gas Buddy also says that once the weather gets warmer again, prices will start to inch back up.
As we get into warmer weather, eventually we'll start transitioning back to cleaner, more expensive blends of gasoline for the summer. Not only that, but refinery maintenance, which starts in late winter will reduce supply and Americans are going to have that cabin fever once warmer temperature start to hit.
Patrick d'han with gas Buddy. New Orleans officials say nearly eight hundred law enforcements will be out in the French Quarter and throughout the downtown area over the rest of the New Year's week. Mayor LaToya Cantrell also says National Guard troops will be deployed there through Marti Gras in February.
We absolutely are welcoming of those added resources.
A terror attack killed fourteen people during last year's New Year Years celebrations. President Trump said earlier this month, national Guard troops will soon head to New Orleans. New York City is ready for the ball drop on New Year's Eve yesterday. Organizers made sure to test the confetti so
it can fly without issue. More than three thousand pounds of biodegradable confetti will rain down at midnight Global News twenty four hours a day and whenever you want it with the Bloomberg News Now Michael Barr and this is Bloomberg, Karen.
That's a lot of confetti. Michael Barr, thank you time now for our Bloomberg Scores update, and for that we bring in Dan Schwartzman.
The Falcons overcome blowing two twenty one point leads to outlast the Rams twenty seven to twenty four as a Gonzas kicks a game winning fifty one yeard field goal at twenty one seconds. Running back by Jean Robinson rushes for one hundred and ninety five yards on twenty two carries. The Nuggets suffer from major losses. Three time MVP Nicola Jokic goes out just before halftime without apparent knee injury in a Denver one for seven to one twenty three
loss at the Miami Heat. Joki's scheduled to have an MRI later today. Elsewhere Nickspeak, the Pelicans one thirty to one twenty five. Raptors get past the Magic one oh seven to one oh six thunder win again, knocking off the Hawks one forty to one twenty nine, while the Cavaliers atlast the Spurs one thirteen to one oh one. That's your Bloomberg Sports update.
Stay with us more from Bloomberg Day Break coming up after.
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Dannis now Spive thirteen of Wall Street. Good morning, m John Tucker. This is Bloomberg Daybreak where you heard the top story President of Trump's campaign to hand the war in Ukraine facing some new complications the runch and President Vlatimir Putin says he'll revise his country's negotiating position. Let's take a deeper dive into this story this morning, and I'm happy to say we're joined by Tina Pornham, the founder of Fordham Global Insight. Gina a pleasure. I'm glad
you could be with us this morning. Putin says Ukraine attacked one of his homes. Ukraine denies it. President Trump seems to believe Putin. Is this now the pretext for RUNCHA to retreat from any forward progress?
Absolutely?
I mean there have been no other reports apart from President Putin himself of this alleged ninety one drone attack on his residence outside of Novgorod. And you know, we have seen this movie so many times and recently, you know, Putin arranges to have a phone call with President Trump before he meets with Zelenski because he knows that he can plant seeds in the President's mind that will end
up influencing the outcome. So this is the proverbial you know, Lucy and Charlie Brown with the football scenario, and so far the White House seems to keep.
Falling for it.
Why is that? You got a wonder with the president President Trump's comments yesterday that he was very angry. Why does he not believe Vladimer Zelenski?
Well, why does he believe Putin who has such a well established track record as a former KGB operative of bait and switch and manipulation.
I mean, I know, John, if you saw the documents that the declassified documents that were released from the talks between Putin and George W. Bush around NATO. But there's an awful lot in the public domain and in the record and in Putin's talks themselves. And yet we know
that President Trump really values his personal rapport. I mean, sitting here in Europe as I am, it's you know, it's it's not too much to say, we wonder if President Trump isn't willing to, you know, sell Ukraine and give Russia an option to buy Europe.
Trump met with net Yahoo mar Lango yesterday. You have Russia, Ukraine, the headlines. We just went over threats against Iran, a strike inside Venezuela, China, the lionfire exercise in near Taiwan. World seems a pretty dangerous place going into twenty twenty six, and Tina. For an administration that promised an America focused agenda, there's certainly a lot of foreign entanglements. Can you wrap this up in a nice neat bow and tell us what gives here?
Well, if you put that against the backdrop of the markets looking very optimistic about twenty twenty six, and I don't disagree, it looks like a big year for market performance and for deal making. You know, this is consistent with the recalibration of the international and the vying for market share if you like, geopolitical market share of China, Russia and the United States. And there are a lot
of casualties there like Venezuela, possibly Greenland and others. So this is all going to continue because we're in the middle of this reset.
Wow. This is Bloomberg day Break, your morning podcast on the stories making news from Wall Street to Washington and beyond.
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