News when you wanted with Bloomberg News. Now I'm Doug Prisner. The partial US government shutdown is over after President Trump signed a funding deal he negotiated with Senate Democrats.
This bill is a great victory for the American people. Instead of a bloated and wasteful omnibus monstrosity full of special interests handass, we've succeeded in passing a fiscally responsible package that actually cuts wasteful federal spending while supporting critical programs for the safety, security, and prosperity of the American people.
So the government is now funded through September thirtieth. Even so, the Department of Homeland Security has funding only through February thirteenth, as the President continues to negotiate with Democrats on new restraints for immigration enforcement agents. Here is Bloomberg's Megan Scully.
Democrats have put forth several demands, including ICE agents and border patrol agents that are in America cities in Minneapolis and elsewhere taking their masks off, and that has been a non starter with House Speaker Mike Johnson. We have seen the Department of Homeland Security actually came out yesterday and said that ICE agents will be wearing body cameras, which has been another point of contention.
That is Bloomberg's Megan Scully. The US Navy shot down and Iranian drone headed toward a US aircraft carrier in the Arabian Sea. US Central Command said the unmanned aircraft aggressively approached the USS Abraham Lincoln with unclear intent. Even so, White House Press Secretary Caroline love It says talks with Iran are still scheduled for later this week.
These talks, as of right now, are still scheduled. President Trump is always wanting to pursue diplomacy first, but obviously it takes two to tango. You need a willing partner to achieve diplomacy, and that's something that Special Envoy Witcoff is intent on exploring and discussing. As always, though, of course, the President has a range of options on the table with respect to Iran as commander in chief.
Now, today's incident did spook the oil market. WTI crude oil finished up one point seven percent to sixty three twenty one. FED Governor Stephen Myron has stepped down from his post leading the Council of Economic Advisors. Now, Myron had taken unpaid leave from his post after he was selected to be Fed governor. Now the White House is suggesting he could return to the role at CEA when his term as Fed governor is over. Myron has said he would remain at the FED until a successor is confirmed.
Shares and software companies tumbled today on fears over how AI will impact their core businesses. The new release of an AI tool from Anthropic added to those worries. The first wave of today's selling was in stocks associated with legal software and publishing, and then media and financial data shares were also hit. The I shares expand tech software sector ETF was down today by four point six percent after the bell. Advanced micro Devices reported fourth quarter earnings
above Wall Street estimates. However, the company gave a disappointing forecast for the current period. AMD is the main challenger to in Vidia in the market for those AI processors. Here's Ray Wong, CEO of Constellation Research.
Well, right now, there is an a credible alternative to Nvidia at the moment. But when they get out their Helius chips and when they build the racks that are going to come in place, that's going to be the first time, in Vidia is going to have a credible challenge to the GPU dominance that they've had for quite
some time. That's what the market's waiting for. But they haven't taken orders yet, they haven't announced as much as they need to, and right now these are just pure performance earnings pre GPU pre AI that they've been able to do, and it's a pretty good number there. But once again, the street isn't interested. So this is kind of where we are at the moment.
That is, Ray Wong from Constellation Research shares in AMD. We're down by more than six percent in late US trading. Tomorrow after the closing, bell will hear from Alphabet. Bloomberg's Tom Busby has a preview.
Google's parent company, Alphabet, expected to post solid revenue and profit growth for last quarter, with its cloud computing division expected to get a big boost from the release of its latest GEMINIAI models, which it also integrated into its Google Search and its Chrome browser like rivals Meta and Microsoft. The big focus for investors, though, is all the spending it's done on AI infrastructure and efforts to power its
data centers. Bloomberg consensus calls for revenue of one hundred eleven point four billion dollars on Ernix per share of two dollars sixty five cents Tom Busby Bloomberg Radio.
Executives from both Netflix and Warner Brothers Discovery defended their proposed merger today before a Senate panel. They were questioned on whether their deal will hurt competition in the market for streaming services. Republican Senator Mike Lee of Utah is chair of the Senate subcommittee that oversees competition and antitrust policy.
One might say that Netflix seeks to become the one platform rule them all, or at least exercise a significant amount of market dominance. The merger raises numerous anti trust concerns in a nutshell consolidating both production and distribution power.
Now, the Department of Justice and Europe's anti trust watchdog are both reviewing the Netflix Warner Brothers deal for antitrust issues. Paramount's Guidance is also trying to buy Warner Brothers Discovery. However, it's CEO David Ellison turned down an invitation to testify at today's hearing. And that is news when you want it With Bloomberg News. Now, I'm Doug Chrisner, and this is Bloomberg