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News when you want it. With Bloomberg News Now, I'm Nathan Hager. TikTok may still be on the clock. A federal appeals panel in Washington, DC has upheld the law that would ban the wildly popular video sharing app in the US unless it's Chinese owner Byteedance sells it by the day before Inauguration day next month. Bloomberg technology host Caroline Hyde has more.
This is important because half of all Americans use TikTok, and even the president to be in twenty twenty five uses TikTok. So the view is that probably with nothing gets held up, we do hit, but they appeal, and basically that's going to push it into the long grass. We'll probably get like a ninety day extension come January the nineteenth, so that it then is dealt with by the next administration, and.
Bloomberg's Caroline Hyde reports it could make enforcement of the band more complicated with Trump's embrace of TikTok. In the meantime, the company's competitors are soaring on Wall Street meta platforms. The parent of Facebook and Instagram is up two percent. Snap owner of Snapchat, is higher by nearly three percent. The broader market is rallying off a comeback in the
labor force. The November jobs report showed two hundred and twenty seven thousand new non farm positions created after the double whammy of storms and strikes in October, the unemployment rate ticked up to four point two percent, but Acting Labor Secretary Julie Sue says that is still quite low.
Those are all signs of an economy that is not just recovered, but has been consistently strong and stable and continuing to grow.
Acting Labor Secretary Julie Sue spoke to Bloomberg Television and we also got consumers sentiment data from the University of Michigan. It's up the most since April after Donald Trump's election win. Joeann chu Is, Michigan's director of Consumer Surveys.
I and large Republicans expect labor markets to strengthen. Democrats expect labor markets to weaken, and independence they're still trying to figure things out. They're not really reporting much of a change from last month.
Joanne Schue of the University of Michigan spoke on Bloomberg Radio.
One year inflation expectations jumped in this survey from two point seven to two point nine percent, to sign that consumers could be bracing for tariffs, But the labor numbers have investors thinking the Federal Reserve could have room to cut interest rates this month, though Fed Governor Michelle Bowman is still preaching caution lowering the policy rate too quickly could unnecessarily stoke demand and potentially reignite inflationary pressures, which
was another concern that I had at the time. Governor Bowman spoke at a banker's event in Missouri. But the market right now is mostly adding to its records, with the S and P five hundred up a quarter percent right now now getting close to sixty one hundred. The Dow Jones industrial average is little change, but the Nasdaq Composite is hired by six tens of one percent, and the policy sensitive two year Treasury yield is down three basis points to close to four point one point one percent.
The manhunt is now into its third day for the gunman who shot and killed United Healthcare CEO Brian Thompson in Midtown Manhattan this week. The New York Post is reporting that investigators are processing bullets, a water bottle, and a Starbucks cup recovered near the scene. DNA results, the report says, could be days away. New York City Mayor Eric Adams was on CNBC this morning.
There's a lot of new information that our detectives and other law enforcement entities were able to find based on their good old fashioned police work. But as you know, there's very a level of sensitivity that you don't want to do anything that's going to endanger of the investigation or to tip off the suspect.
New York City Mayor Eric Adams there and police are also offering a ten thousand dollars war for information. President Delect Trump is offering more support for Pete Hegseth. Trump posted on truth Social that support for his Defense Secretary nominee is quote strong and deep, much more so than the fake news would have you believe. End quote. Hag Seth says he has overcome his past alcohol abuse.
I'm a different man than I was years ago, and that's a redemption story that I think a lot of Americans appreciate.
But Pete hegg Seth has yet to win the support of Republican Senator Joni Earnst. She's calling for a full investigation into allegations of sexual and financial misconduct. Support for the video sharing site Rumble is building on Wall Street. Those shares are up twenty one percent. Trump is named David Sachs to be his first artificial intelligence and cryptos are. Sacks is a venture capital investor who holds more than
a million shares of Rumble. Lulu Lemon stock is up seventeen percent following strong overseas sales for the athleisure brand. Bloomberg's Bailey Lipschaltz has.
That US sales ended up being flat on the third quarter, but the big growth both thirty nine percent jump in China. When you're trying to tease out what companies are going to be better positioned for the move forward, clearly seems like Lula Lemon is tapping Asia, which I don't think many analysts really had on their Bengo car.
Bloomberg's Bailey Lipschultz reporting Chevron says it's cutting low carbon investments by a fourth as the oil explorer trim spending across the board and prioritizes profits over energy output. Right now, Chevron shares are lower by more than two percent. That's news when you want it with Bloomberg News Now. I'm Nathan Hager, and this is Bloomberg