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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 push to end the war in Ukraine. White House Special Envoice Steve Whitcoff is in Moscow today. He is set to meet with Russian President Vladimir Putin to discuss the latest proposal to end the fighting, after weekend negotiations with Ukrainian officials in Florida. We get more from Bloomberg's bolash Pens.
It's been a period of very intense diploma sieves from very very high level, high stakes meetings ever since the publication of President Trump's twenty eight point plan to bring a halt to this war. And as we have heard from President Zelenski, it does seem like the US and Ukraine are now at least in broad agreement over the outlines of the plan, and the two sides were able to get something that's closer to what they want to see.
It's Bloomberg's bolash Pens.
Now.
Ahead of Todays, Putin claimed that Russian troops have taken over the city of Pakroftsk in Ukraine's Eastern Dawn Boss region. Ukraine's military denies it and says the fighting is still ongoing in the city. Bloomberg News is unable to verify either claim. A takeover would be Russia's most significant battlefield advance in nearly two years.
Well Nathan, A military strike on this side of the world is continuing to draw scrutiny. Now. The White House is defending Defense Secretary Pete Hegseth following a Washington Post report that he ordered everyone killed on a suspected drug running boat in the Caribbean. White House Press Secretary Caroline Lovett is confirming there was a second strike on the vessel.
The strike, conducted on September second, was conducted in self defense to protect Americans in vital United States interests. The strike was conducted in international waters and in accordance with the law of armed conflict.
And White House spokesman Caroline Levitt says the strike was ordered by Navy Admiral Frank Bradley, not hag set The lawmakers are pressing for hearings on the second strike. Adam Smith is a top Democrat in the House Armed Services Committee.
Admiral Bradley's coming in this week to talk to us.
That's I think where we're going to first get the information, and then I think we should go higher up the chain of command.
Democratic Congressman Adam Smith spoke to ABC News. Rapport to the second strike have led to accusations of war rhymes in the Trump administration's deadly anti cartel campaign.
Turning the markets now, Karen, Futures are higher this morning, but stock's kicked off the month of December with losses. The S and P five hundred fell a half percent. Cameron Dawson is chief investment strategist at New Edge Wealth.
If the riskiest parts of the.
Market are starting to show a bit more risk off tone, it raises questions about an equity market that's trading at very high valuations. But we would note that if you look at positioning metrics for the SMP and broader equities, they still remain just neutral or even underweight for some investors. So we're still in the camp that any dips are likely to be bought rather quickly, but that doesn't mean that you won't get volatility.
Along the way.
New Edge Well, it's Cameron Dawson.
Now, December is historically a good month for stocks according to CFRA since nineteen ninety The S and P five hundred recorded its second best average price return in December.
Well, Nathan, we are seeing some stabilization in the cryptocurrency Marcus this morning, following yesterday's five percent sell off in Bitcoin. Right now Bitcoin is at eighty six eight hundred dollars. It is higher a four tenths of percent Bloomberg Intelligence, as Mike mcgloan says, it may be heading lower though.
Right now, Bitcoin's about fifteen percent below it's fifty fifty week moving average. It's rolled over and the SMB five hundred and twelve percent above it's the same moving average. We have never had midcoin drop at this velocity since Feature's word launched in twenty seventeen without the stock market falling, and that might mean the bitcoin's set to steal be the grinch that stole Christmas.
Mike mcgloane with Bloomberg Intelligence, as Bitcoin could fall as low as fifty thousand dollars before the end of the year.
Let'sying look at some stocks to watch. Karen Shares of Bayer are up eleven percent in Germany, the Trump administration has urged the Supreme Court to considered the German company's appeal targeting thousands of lawsuits blaming its Roundup weed killer for causing cancer. Beyer inherited the weed killer and its sixty three billion dollar acquisition of Monsanto in twenty eighteen. The company has already shelled out more than ten billion dollars in verdicts and sential its over the herbicide.
Well Nathanamazon dot Com plans to offer deliveries of hundreds of household items within thirty minutes in a test program beginning in Philadelphia and its home city of Seattle. Bloomber's John Tucker reports.
Those household items include some fresh groceries and over the counter medicines. The company says it will use specialized smaller facilities for the deliveries. The fee will start at thirteen ninety nine, discounted to three ninety nine for Prime members. Amazon has a long history of experimenting with quick delivery from specialized urban facilities stock with inventory similar to the products sold by convenience stores and pharmacies. I'm John Tucker Bloomberg Radio.
Okay, John, thank you. Tesla is in the spotlight as well. This morning investor Michael Burry is betting against shares of the ev makers, saying they are quote ridiculously overvalued end quote. Burry is also warning that Tesla CEO Elon Musk's proposed trillion dollar pay package would worsen shareholder dilution. Burry, you may recall, is best known for correctly betting against the US housing market during the two thousand and eight financial crisis.
Nathan Warner Brothers Discovery is fielding a second round of biz, and Bloomberg News has learned one of them includes a mostly cash offer from Netflix. Sources a banker's for paramount sky Dance. Comcast and Netflix worked over the long Thanksgiving weekend on improved offers for all or part of Warner Brothers, the parent of HBO CNN in its namesake Film Studio, officially put itself up for sale in October after receiving multiple unsolicited offers for all or part of the company.
Certain the economy now karen just over a week away from the fed's final policy decision of the year, and traders are pricing in a ninety five percent chance they'll decide on a rate cut. Kathy Jones is chief fixed income strategistic Charles Schwab.
I think my biggest concern is that the Fed may is too much too soon, and cape inflation and inflation expectations elevated, and that will give us a steper yield curve.
It's Charles Swabs, Kathy Jones. Check the tenuere treasure yield right now? Is it four point zero eight percent?
I'm now for look at some of the other stories making news in New York and around the world, and for there we're joined by Bloomberg's Michael Barr.
Michael, good Morning, Good morning Karon.
The man charged with killing United Healthcare CEO Brian Thompson is due back in court in New York City for a hearing today. Defense attorneys for Luigi Mangioni are trying to limit prosecutors from using key evidence that includes a three D printed gun and purported journal writings say they found in a backpack when they arrested him in Pennsylvania last year. Homeland Security Secretary Christy nom says she's recommending
widening a travel ban on third world countries. Meanwhile, after the shooting of two National Guard troops last week in Washington, d C. The White House says it will pause asylum applications among other forms of legal immigration. The Trump administration talked about deporting those who don't align with the US national identity. White House Press Secretary Caroline Levett at a news.
Briefing, I'll tell you what does not add to our nation's character and integrity is refugees who come here under the alleged plight of asylum and fleeing persecution, and then come to the United States to abuse our system and rip off American taxpayers.
The suspect in the shooting is an Afghan national who came to the US in twenty twenty one. He was granted asylum in April of twenty twenty five. President trump'sa's lawyer, Alena Habbab, has been disqualified from serving as New Jersey's top federal prosecutor. Federal Appeals Court said the Trump administration's maneuvers to keep Haba in the role were contrary to
federal laws governing appointments. A new study finds kids who are given cell phones before age twelve are more likely to experience depression, obesity, and sleep struggles than those who get phones later in life. Stanford University physician doctor Alok Ptel says The study tracked phone usage among kids as young as eight or nine years old.
The longer they actually had a cell phone, the more they were using these smartphones, the worse the potential outcomes, the higher the risk.
The report by the Adolescent Brain Cognitive Development Study was published in the journal Pediatrics. Global News twenty four hours a day and whenever you wanted with the Bloomberg News. Now, Michael Barn, this is Bloomberg Heart.
Thanks Michael.
Time now for our Bloomberg Sports updating. For that, we bring in John Stashauer.
Thanks Keren mother By. Football figure to be a mismatch, and it was. The Patriots are eleven and two, they've won ten in a row. The Giants are two and eleven, they've lost seven in a row. New England was ahead thirty to seven by halftime, went onto the easy thirty three to fifteen victory. A baseball free agent signing the release pitcher Devin Williams pitched last season for the Yankees. He'll now pitch for the Mets. Signed a three year
deal for fifty one million. Mark Steub's longtime coach at Kentucky fired. The Wildcats are aiming to hire Oregon offensive Cornder will Stein. That's a Bloomberg Sports update.
Stay with us.
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This is Bloomberg Daybreak. Good morning on Nathan Hager Shuttle.
Diplomacy continues in the push to end the war in Ukraine. This morning, US Envoy Steve Witkoff is set to meet with Russian President Vladimir Putin on the latest peace plan. White House Press Secretary Caroline Levy it says the administration is optimistic.
The President's entire team, including Special Envoy Witkoff and Secretary Rubio and the Vice President and the President himself Secretary Haig Seth as well, have been working so hard on this effort and they all really want to see this war.
Come to an end.
Press Secretary Caroline Levitt at the White House joining us now as Bloomberg News Russia team leader Tony Haupin. Tony, it's great to speak with you this morning after we heard from Ukraine's President Vladimir Lensky saying the latest plan looks better after a weekend talks in Florida. Do we have any indication that Russia is going to feel the same way?
Good morning. Yes, Well, we have Steve Wikoff, as you say, having his sixth meeting this year with President Vladimir Putin in Moscow. He's due to arrive later this afternoon Moscow time. Putin has signaled an openness to talks. He said that the proposals set out that he's seen from the US could be the basis for future negotiations and agreements. But since he says there's no final yet, he can't give
a clear answer on that. Still, we haven't seen any signs so far that he's ready to roll back any of Russia's demands in regards to Ukraine.
And in the midst of this, we've gotten reports from Putin himself ahead of these talks that Russia's taken over the eastern Danbas city of Percrafts. Do we have any confirmation that that has indeed happened.
No, I mean, Ukraine in fact denies that that's the case, that his forces have lost the city. It's been contested for many months. There's certainly no doubt that Russian forces are in the city of Percross, but whether they've succeeded in taking it fully yet we don't have confirmation on That's one of the issues for Pusin. Of course, he wants the whole of that eastern the next region of Ukraine, and Cross has been one of those contested cities, it's
not the only one. It's still an issue clearly for discussion at the negotiating table.
Now.
I guess that raises a question as well about whether that would bring the original twenty eight point plan that apparently was hammered out between the US and Russia, whether that could come back into play now that seems unlikely.
It was so vehemently rejected by both Ukraine and Europe. There were many points in that that Kiev has repeatedly refused to accept. So the points have being hammered down to nineteen I think currently, and that seems to be the basis on which Ifter Wikoff will be talking with President Putin later today.
So it's going to be a Steve Witcoff, as you say, his sixth visit to Moscow. In the meantime, Secretary of State Rubio has been in talks with Ukrainian officials should we read anything into the fact that it's Witkoff as a point person with Russia and Secretary Rubio apparently is a point person to some extent with Ukraine.
I mean, yes, that's an interesting dynamic. As you say, Steve Witkoff and Kremlin Envoy Dimitri I have struck up some kind of relationship that seems to mean that Russia is comfortable in talking with mister Whidcoff and sexuar Estate Rubio is clearly someone of the Ukraine feels that they can negotiate directly and frankly with. But this is one
of the issues. I think that the US still needs to get both sides to agreement on a common piece of paper, and so far we don't see that that's appearing, and whether it does at the end of the day is obviously something we're closely watching.
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I'm Karen Moscow and I'm Nathan Hager.
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