Bloomberg Daybreak: US Edition

On today's podcast:

 
1) US stocks are set to bounce back from Monday’s losses as investors nervously weighed up progress on trade talks with India and Tesla’s upcoming earnings. Gold topped $3,500 for the first time.

2) President Donald Trump warned the US economy may slow if the Federal Reserve does not move to immediately reduce interest rates, in his latest broadside against Fed Chair Jerome Powell.

3) Harvard University sued several US agencies and top officials for freezing billions of dollars in federal funding, significantly ratcheting up a high-stakes showdown with the Trump administration.

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On today's podcast:

1) Pope Francis, who encouraged Catholics to embrace a more compassionate view on many issues but found it difficult to close the book on past abuses by clergy, has died. He was 88.
Francis passed away at 7:35 a.m. Monday in Rome, the Vatican said in a statement. He had been hospitalized in Rome in mid-February with bronchitis, which progressed to pneumonia in both lungs — the last in a litany of respiratory and other medical challenges he had faced. On Sunday, he had met with US Vice President JD Vance. 

2) The New York Times is reporting Defense Secretary Pete Hegseth sent sensitive information about strikes in Yemen to an encrypted group chat that included his wife and brother, people familiar with the matter said.
Defense Secretary Pete Hegseth shared detailed information about forthcoming strikes in Yemen on March 15 in a private Signal group chat that included his wife, brother and personal lawyer, according to four people with knowledge of the chat.
Some of those people said that the information Mr. Hegseth shared on the Signal chat included the flight schedules for the F/A-18 Hornets targeting the Houthis in Yemen — essentially the same attack plans that he shared on a separate Signal chat the same day that mistakenly included the editor of The Atlantic.

3)  China warned countries against striking deals with the US that could hurt Beijing’s interests, upping the ante in the trade war with Washington and showing how others risk getting caught in the middle.
While it respects nations resolving their trade disputes with the US, Beijing “resolutely opposes any party reaching a deal at the expense of China’s interests,” the Ministry of Commerce said in a statement Monday. 
If that happens, Beijing “will never accept it and will resolutely take reciprocal countermeasures,” the ministry added. “China is willing to strengthen solidarity and coordination with all parties, jointly respond and resist unilateral bullying acts.”

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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On this special holiday edition of Bloomberg Daybreak US edition, host John Tucker discusses President Trump recent criticism of Fed Chair Powell with Michael McKee and Stuart Paul. He also talks about ETF inflows with Eric Balchunas and looks at the future of antitrust litigation with Jennifer Rie. 

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On today's podcast:
1) President Trump's optimism on trade is lifting stocks following yesterday's selloff on Wall Street. Positive signals from initial US-Japan trade talks stirred optimism agreements can be reached to avoid higher levies on American trading partners.
2) Fed Chair Jay Powell says tariffs make a challenging scenario for the Federal Reserve. Powell on Wednesday signaled a wait-and-see approach to tariffs, pushing back on hopes the central bank would act quickly to soothe investor fears. His comments, along with concerns over the impact of tariffs on the tech sector, helped end a two-day consolidation in stocks.
3) Harvard continues to push back against pressure from the White House. Harvard University's refusal to comply with a Trump administration deal to require it to reform its governance and end diversity programs is resulting in retribution. The administration's freezing funding of 2.2 billion dollars of multiyear grants, accusing Harvard of mishandling antisemitism on campus. President Trump says the school should lose its tax-exempt status and several outlets reported that the IRS is considering the issue

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On today's podcast:
1) Nvidia slides after it warns Trump's curbs on China chips will cost it billions. The US government has restricted Nvidia from selling its H20 chip in China, escalating the tech battle between Washington and Beijing. Restrictions and trade war concerns are expected to negatively impact chip-sector earnings and China's ambitions to compete on the global tech stage.
2) China says it is open to trade talks if President Trump's Administration shows more respect. China wants the US to show more respect by reining in disparaging remarks by members of Trump's cabinet before agreeing to trade talks. Beijing also wants a more consistent US position and a willingness to address China's concerns around American sanctions and Taiwan.
3) Investors await a key speech by Fed Chair Jay Powell. Powell is making a speech in Chicago as traders look for hints on how the Fed will manage rates as President Trump aims to implement his tariff policy, and they're also following retail sales data today.

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On today's podcast:
1) China orders a halt to Boeing jet deliveries in another salvo of the US-China trade war. China ordered its airlines to stop taking deliveries of Boeing jets and to halt purchases of aircraft-related equipment and parts from US companies. The standoff is a setback for Boeing, which relies heavily on the Chinese market, and could impact the company's sales and supply chains.
2) US Treasury Secretary Scott Bessent downplays the recent bond market selloff in an exclusive discussion with Bloomberg. He says the Treasury has a lot of tools it could use should it need to step in, but says there's no signs it needs to right now.
3) Harvard fights back against President Trump's $9 billion funding fight. University President Alan Garber rejected the Trump administration's demands to combat antisemitism, citing threats to academic freedom and interference in higher education. In response, a government task force plans to freeze $2.2 billion of multiyear grants to Harvard, which could impact the university's research, medicine, and public health programs.

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On today's podcast:
1) President Trump warns his pause on import duties on phones, computers and popular consumer electronics are just temporary. The president has exempted certain electronics from tariffs, but says it's a temporary measure and that a different tariff will be applied to the sector soon. Trump plans to announce a tariff rate for semiconductors in the coming week and is open to discussing the scope of the tariff with companies.
2) Bank Earnings continue with Goldman Sachs reporting this morning. Despite the strong trading revenue, investors are concerned about the impact of tariffs and recession fears on all of the big banks' performance, and executives are expected to continue to strike a cautious tone.
3) Jeff Bezos' Blue Origin is launching an all-women crew on its New Shepard rocket, including Katy Perry, Bezos' fiancée Lauren Sánchez, and other notable women, on a roughly 11-minute trip to the edge of space. This launch is Blue Origin's 11th human spaceflight, following recent successes and challenges, including a workforce

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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On today's podcast:
1) China will raise tariffs on all US goods from 84% to 125% starting April 12 and will ignore any further US tariff increases. It comes as President Trump’s dramatic U-turn on tariff threats has isolated China as the primary target of his trade offensive, significantly narrowing Beijing’s options for immediate de-escalation. Areas of US-China trade that could be next in line for Chinese retaliation include education, travel, financial services, computing services, and films and entertainment.
2) Billionaire Ray Dalio tells Bloomberg the tariff turmoil has damaged the US reputation for reliability, but that's not one of his primary concerns about the US economy and outlook for a recession. While the Bridgewater founder considers a US recession likely, geopolitical tensions and potential for diplomatic breakdowns are a global threat in Dalio's eyes.
3) New York City officials investigate a deadly helicopter crash in the Hudson River. The sightseeing helicopter crashed into the Hudson River, killing all six people on board, including three children from Spain and the pilot. The crash is the latest in a string of incidents that has rattled confidence in US aviation safety, following a deadly midair collision last year and other helicopter crashes around New York City.

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On today's podcast:
1) President Donald Trump’s dramatic U-turn on tariff threats has isolated China as the primary target of his trade offensive, significantly narrowing Beijing’s options for immediate de-escalation.

2) European stocks opened sharply higher, tracking Wall Street’s late-Wednesday rally, after President Donald Trump paused most of his sweeping tariff hikes. US equity futures fell, however, suggesting the euphoria is already dissipating. 

3) Five gut-wrenching days after Donald Trump’s America-versus-the-world trade war threw stock and bond markets around the world into disarray, he backpedaled and, in the process, pulled the financial system back from the brink.

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On today's podcast:
1) President Donald Trump’s so-called reciprocal tariffs are now in place, dealing a thunderous blow to the world economy as he pushes forward efforts to drastically reorder global trade.

2) China hasn’t immediately responded to the new US tariffs, a departure from the last two episodes when President Donald Trump hiked duties and Beijing hit back within minutes. 

3) A vicious sell-off in what are supposed to be the world’s safest assets has investors grasping for reasons behind the steep declines in Treasuries which accelerated Wednesday.

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On today's podcast:

1) Stocks staged a modest recovery as investors looked for dip-buying opportunities while awaiting clarity on how President Donald Trump’s trade policies will play out.

2) China pledged to retaliate against Donald Trump’s latest tariff threat and stepped up efforts to support the market, raising the risk of a prolonged trade war between the world’s two largest economies. 

3) Billionaire Ken Griffin said President Donald Trump’s latest tariffs amount to a hefty tax on families and are a “huge policy mistake” by the administration.

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On today's podcast:

 1) The carnage in financial markets unleashed by President Donald Trump’s tariffs is continuing unabated as equities get pummeled and US stock futures show that last week’s $5 trillion wipeout isn’t over.

2) President Donald Trump and his economic team dismissed investors’ fears of inflation and recession, offering no apologies for the market turmoil sparked by sweeping global tariffs and defiantly insisting a boom is on the horizon. 

3) Traders expect the Federal Reserve to slash interest rates another five times this year as the US administration’s trade tariffs ignite fears of a global recession.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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On today's podcast:

1) President Trump says he's open to tariff cuts in return for phenomenal offers. President Trump indicated that more tariffs are on the way, specifically mentioning pharmaceuticals, and reiterated his willingness to offer tariff relief for China if Beijing approves the sale of TikTok's US operations.

2) Investors await a jobs report and a speech on the economy by Fed Chair Jay Powell. US hiring likely remained healthy last month with the unemployment rate holding steady at a historically low level of 4.1%.

3) Republicans consider a higher rate for millionaires in their sweeping tax cut bill. Senate Republicans unveiled a budget blueprint that would fast-track a renewal of President Donald Trump's tax cuts and an increase to the nation's borrowing limit.

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The “America First” trade is unraveling in the sweeping turmoil in global markets, with stocks acutely exposed to the US economy sinking alongside the dollar. As Wall Street’s rebellion against Donald Trump’s tariff war intensifies, traders are rushing into fixed-income havens.

About $2 trillion was erased from the S&P 500, with the gauge down about 5%. The Russell 2000 of smaller firms extended its plunge from a 2021 all-time high to 20% on speculation the president’s trade offensive will stunt the American economy. The greenback slid 1.5%, reigniting the debate about its haven reputation during challenging times as the euro, yen and Swiss franc surged. Oil joined a selloff in commodities.

All in, the much-vaunted America-first trade — buying up assets that win when the US outperforms the rest of the world — is reversing on concern that the steepest increase in American tariffs in a century will hammer economic growth.

That’s driving a fierce rally in global bonds, sending the yield on benchmark Treasuries briefly below the closely-watched 4% level. Most other yields also tumbled as money markets priced in a 50% chance of the Federal Reserve delivering four quarter-point rate reductions this year.

Trump has embraced tariffs as a tool to assert US power, revive manufacturing at home and extract geopolitical concessions. Economists say the near-term result of his measures will likely be higher US prices and slower growth, or perhaps even a recession.

Listen for comprehensive coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alix Steel, Carol Massar and Tim Stenovec.

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On today's podcast:     

1) President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world.     

2) Donald Trump’s shake-up of the global trading system is hurting US assets more than those in many of the big economies he has just slapped with additional tariffs.     

3) Treasury Secretary Scott Bessent urged US trading partners against taking retaliatory steps against President Donald Trump’s new set of retaliatory tariffs.

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On today's podcast:

1) Voters in Wisconsin push back on Elon Musk and Republicans in Florida fend off Democrats. Elon Musk-backed candidate, Brad Schimel, lost a Wisconsin judicial race despite Musk pouring millions into the campaign, with Susan Crawford winning 55% to 45%. Republicans held onto two House seats in Florida, winning about 57% of the vote in both districts, but with smaller margins than in the November general election.

2) The world waits as President Trump's tariff announcement comes down to the wire. President Trump's team is finalizing plans for reciprocal tariffs to be unveiled on Wednesday, with multiple proposals under consideration, including a tiered tariff system and a customized reciprocal plan. The tariffs are expected to take immediate effect, with countries able to negotiate to bring rates down, and could apply widely, even to countries with which the US doesn't have a trade imbalance.

3) The SALT tax deduction could get a boost in Republicans' massive tax bill. Republicans are drafting a tax bill that includes increasing the state and local tax deduction to up to $25,000 for an individual, a major victory for swing-district House Republicans.

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On today's podcast:

1) President Donald Trump will announce his reciprocal tariff push on Wednesday during an event in the White House Rose Garden, his top spokeswoman said.

2) President Donald Trump initially criticized Russian President Vladimir Putin, but then shifted his criticism to Ukrainian President Volodymyr Zelenskiy, accusing Ukraine of trying to renegotiate an economic deal with the US. 

3) In a quarter marred by tariff uncertainty, US government spending cuts and the threat of recession, it is fears about a bubble brewing in artificial intelligence that have dealt the latest blow to the Nasdaq 100.

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On today's podcast:

1) President Trump says he plans to start his reciprocal tariff push with all countries. Trump's tariffs are set to be unveiled on April 2 and will aim to rebalance global trade and boost US manufacturing. The Trump administration has not yet outlined what tariffs are coming, how they'll be calculated, or what countries will need to do to secure exemptions.

2) The president threatens Russian oil penalties if Vladimir Putin refuses a ceasefire with Ukraine. Trump said he was "very angry" at Vladimir Putin and threatened "secondary tariffs" on buyers of Russian oil if Putin refuses a ceasefire with Ukraine. Trump also threatened to punish Tehran with unspecified "secondary tariffs" and raised the threat of bombing Iran until it signs a deal that renounces nuclear weapons.

3) Elon Musk says his role at DOGE is costing him a lot in terms of his job as CEO of Tesla. Musk's political activities have led to a 45% drop in Tesla shares since their peak last year, causing his personal wealth to decline by over $100 billion this year.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.
•    In the US – a preview of US March jobs and a look at the potential impact of auto tariffs. 
•    In the UK – an assessment of NATO's position amid growing global tensions.
•    In Asia – a preview of the Reserve Bank of Australia's next rate decision. 

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On today's podcast:

1) The US looks to control nearly all investment in Ukraine as President Trump pushes for ceasefire with Russia. the US is pushing for a deal that would give it control over major future infrastructure and mineral investments in Ukraine, potentially gaining a veto over any role for Kyiv's other allies.

2) Defense Secretary Pete Hegseth faces Signal questions on his first trip to Asia. President Donald Trump dismissed the disclosure of Houthi attack plans in a Signal chat as a “glitch” with no impact on national security. However, intelligence experts argue that the disclosure gave foreign adversaries priceless insight into US spycraft.

3) Elon Musk says he can slash a trillion dollars from the Federal budget before this summer. Musk believes his Department of Government Efficiency can find that level of cost savings within 130 days from the start of Trump's term.

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On today's podcast:

1) President Donald Trump signed a proclamation to implement a 25% tariff on auto imports and floated further duties on the EU and Canada, expanding a trade war and triggering threats of retaliation.

 2) Donald Trump’s planned tariffs on auto imports will hurt carmakers around the world and push up prices for US consumers. Among the many losers, one winner stands out: Elon Musk’s Tesla Inc.

3) President Donald Trump and top allies struggled to fend off criticism over the inadvertent inclusion of a journalist in a Signal chat discussing military attacks in Yemen, after newly disclosed texts showed how Defense Secretary Pete Hegseth revealed specific operational details.

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On today's podcast:

1) US tariffs on copper imports could be coming within several weeks, months earlier than the deadline for a decision, according to people familiar with the matter. Copper traded in New York rose to a record.

2) President Donald Trump said his administration was investigating the addition of a journalist to a text group of top officials discussing plans for military strikes in Yemen, but expressed support for national security adviser Michael Waltz.

3) Average Wall Street bonuses surged last year, with the total pool for payouts jumping to a record $47.5 billion as industry profits soared.

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On today's podcast:

 1) The Atlantic’s top editor said he was added to a text group in which top US officials discussed detailed plans to bomb Houthi targets in Yemen with other top US officials, an extraordinary breach of security from an administration that has repeatedly vowed to clamp down on leaks.

2) President Donald Trump said he will announce tariffs on automobile imports in the coming days — and indicated nations will receive breaks from next week’s “reciprocal” tariff

3) Federal Reserve Bank of Atlanta President Raphael Bostic said he now sees just one interest-rate cut as likely this year, rather than two, with tariff hikes impeding progress on disinflation.

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On today's podcast:

1) Markets get a lift on word President Trump's tariffs will be more targeted. President Trump is preparing to announce "reciprocal tariffs" on April 2, targeting countries that have tariffs or barriers on US goods, but excluding some nations and blocs.

2) Separate ceasefire talks continue between the U-S, Ukraine and Russia. The White House aims to reach a truce agreement in the Russia-Ukraine war by April 20, but recognizes that the timeline may slip due to large gaps between the two sides' positions.

3) Mark Carney takes aim at Trump as he launches his election campaign in Canada. Canadian Prime Minister Mark Carney has called an election for April 28, with polls showing a close contest between his Liberal Party and the Conservatives.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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1) London's Heathrow airport will be closed all day Friday due to a major power outage caused by a nearby fire at an electrical substation. The airport advises passengers not to travel to the airport, and disruptions are expected to continue over the coming days, with hundreds of flights already canceled.

2) President Trump denied a report that Elon Musk would be briefed on the American military's contingency planning for a potential war with China. Defense Secretary Pete Hegseth confirmed that Musk would visit the Pentagon, but characterized the meeting as an informal discussion about innovation, efficiencies, and smarter production.

3) President Trump signed an executive order to largely dismantle the Education Department, directing Education Secretary Linda McMahon to "take all necessary steps to facilitate the closure" of the department. The move is part of Trump's vision to overhaul the US government, with the goal of transferring the department's functions to states and reducing its workforce of over 4,000 employees by nearly half.

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On today's podcast:

1) Federal Reserve Chair Jerome Powell downplayed growth concerns and the impact of President Donald Trump's trade war on inflation, calling the inflationary effect of tariffs "transitory".

2) President Donald Trump said the Federal Reserve should cut interest rates, splitting with the US central bank as officials weigh the economic cost of his tariff push. 

3) Ukrainian President Volodymyr Zelenskiy agreed to a proposal for a mutual halt to strikes on energy assets as an initial step in President Donald Trump’s effort to end the war that began with Russia’s full-scale invasion three years ago.

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Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.
Federal Reserve officials held their benchmark interest rate steady for a second straight meeting, caught between mounting concerns that the economy is slowing and inflation could remain stubbornly high.
Chair Jerome Powell acknowledged the high degree of uncertainty from President Donald Trump’s significant policy changes, but repeated the central bank is not in a hurry to adjust borrowing costs. He said officials can wait for greater clarity on the impact of those policies on the economy before acting.

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On today's podcast:

1) President Vladimir Putin refused to give Donald Trump the 30-day ceasefire in Ukraine he and his team had demanded on the path toward ending the three-year conflict. It was still good enough for the US president.

2) Turkish authorities detained Ekrem Imamoglu, President Recep Tayyip Erdogan’s most prominent rival, in a widening crackdown on opposition that triggered a selloff in Turkish markets.

3) Morgan Stanley is planning to cut about 2,000 employees later this month in the first major workforce reduction under Chief Executive Officer Ted Pick.

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On today's podcast:

1) President Donald Trump said the US and Russia are already talking about dividing “assets” as part of a push to end the fighting in Ukraine, the latest sign that he may be preparing to sacrifice Kyiv’s interests when he speaks with Vladimir Putin on Tuesday.

2) Israel launched a series of airstrikes overnight across Gaza, shattering a nearly two-month ceasefire with Hamas.Prime Minister Benjamin Netanyahu vowed to act “with increasing military strength” and said the Palestinian militant group had repeatedly refused to release the hostages it’s holding.

3) Two NASA astronauts stuck in orbit for nine months finally departed the International Space Station aboard a SpaceX capsule on Tuesday, kicking off their long-awaited voyage home.

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On today's podcast:   

1) President Donald Trump said he’ll speak with Russian President Vladimir Putin on Tuesday as the US presses for an end to fighting in Ukraine and European nations rush to bolster their support for Kyiv.
“We are doing pretty well I think with Russia,” Trump told reporters aboard Air Force One on Sunday. “We’ll see if we have something to announce maybe by Tuesday,” he said, adding that there is “a very good chance” for a deal. 
The Trump administration has pushed for a ceasefire between Russia and Ukraine amid a flurry of renewed engagement between Washington and Moscow, three years after Russia’s full-scale invasion. Yet that effort has sparked angst among European leaders who worry Trump may concede too much on Ukraine’s behalf in a direct exchange with Putin and leave Kyiv without any longer-term security guarantees.   

2) Treasury Secretary Scott Bessent, a former hedge fund manager, said he’s not worried about the recent downturn that’s wiped trillions of dollars from the equities market as the US seeks to reshape its economic policies. 
“I’ve been in the investment business for 35 years, and I can tell you that corrections are healthy, they are normal,” Bessent said Sunday on NBC’s Meet The Press. “I‘m not worried about the markets. Over the long term, if we put good tax policy in place, deregulation and energy security, the markets will do great.”   

3) The Trump administration said it arrested and expelled hundreds of alleged members of Venezuela’s Tren de Aragua gang to El Salvador for imprisonment, even as a federal judge ordered a halt to some deportations.
“This weekend, at the President’s direction, the Department of Homeland Security successfully arrested nearly 300 Tren De Aragua terrorists, saving countless American lives,” White House Press Secretary Karoline Leavitt said Sunday in a statement. “These heinous monsters were extracted and removed to El Salvador where they will no longer be able to pose any threat to the American People.”
The US is paying El Salvador to hold the Venezuelans under an agreement Secretary of State Marco Rubio brokered with the Central American country’s president, Nayib Bukele. Some 238 members of the gang were transferred to a terrorism confinement center, Bukele said on X. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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On today's podcast:

1) Part of the equity optimism comes on signs the US will avert a government shutdown. Senate Democratic leader Chuck Schumer opted not to block the Republican bill, avoiding a government shutdown.

2) The US quietly tightens sanctions on Russia as it seeks a ceasefire deal. The Trump administration let a license covering payments for energy to a handful of Russian banks expire, making it difficult for foreign oil refineries, traders, and buyers of Russian gas to pay Russia in dollars or other Western currencies.

3) President Trump's trade war continues to impact global markets. Companies worldwide are planning for the worst as President Trump's tariffs create uncertainty, with some setting up "tariff task forces" to mitigate the impact on sales, profits, and market shares.

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On today's podcast:

1) President Donald Trump said the US would respond to the European Union’s countermeasures against his new 25% tariffs on steel and aluminum, raising the risk of further escalation in his global trade war.

2) Senate Democratic leader Chuck Schumer said his party would block a Republican spending bill to avert a government shutdown on Saturday and urged the GOP to accept a Democratic plan to provide funding through April 11 instead.

3) The worst of the US equity correction may be over, with credit markets indicating a lower risk of recession, according to JPMorgan Chase & Co.

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On today's podcast:

1) The European Union launched countermeasures on Wednesday against new US metals tariffs, with plans to impose its own duties on €26 billion ($28.3 billion) worth of American goods.

2) Less than two weeks after Donald Trump lambasted Ukrainian President Volodymyr Zelenskiy in an Oval Office confrontation, the US president put the pressure on Russia to accept a ceasefire agreement hammered out with Zelenskiy’s advisers.

3) House Republicans passed legislation to keep the US government open past a Saturday shutdown deadline, daring moderate Democrats in the Senate to block the measure over objections it fails to constrain Elon Musk’s cost-cutting crusade.

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Bloomberg's Nathan Hager breaks down the recent market volatility with Morgan Stanley's Mike Wilson and Bloomberg Opinion contributor Mohamed El-Erian.

 
Global stocks steadied from a selloff and US stock futures signaled a Wall Street bounce, as Bloomberg News reported President Donald Trump will meet with top business executives later in the day. Contracts for the Nasdaq 100 rose 0.5% after the index’s deepest slump since 2022, while those on the S&P 500 climbed 0.4%. Tesla Inc. shares rose in premarket trading after Monday’s 15% slide while other tech names including Nvidia Corp. also edged higher. In Europe, the Stoxx 600 index was steady while earlier, Asian shares bounced off an intraday five-week low.There was relief for other risk assets too, as Bitcoin stabilized after a five-day selloff and oil prices notched a small bounce from Monday’s drop. However, concerns over the once unstoppable resilience of the US economy continue to support Treasury markets, with 10-year yields edging lower again on Tuesday. The dollar index slid 0.3%.

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On today's podcast:

1) The stock selloff moderates around the world as the world's richest lose more than $200 billion since President Trump's Inauguration. It comes as Wall Street strategists like Citi downgrade views on US equities. Investors remain cautious due to concerns about the American economy, tariffs, and government spending cuts.

2) Ukraine launches its biggest attack yet against Russia ahead of talks with the US. Ukraine launched a record number of drone attacks on Russia, with air defenses downing 337 drones including dozens that targeted Moscow. Top US and Ukrainian officials are set to meet in Saudi Arabia to explore the potential for reaching a ceasefire, with the US seeking a clear commitment from Ukraine to a diplomatic resolution.

3) House conservatives get behind a stopgap to avert a government shutdown. The House Freedom Caucus has backed a stopgap funding package, which would reduce and then freeze spending for six months, to help Speaker Mike Johnson pass the bill without Democratic support. The bill's fate is uncertain, with some Republicans, including Representative Thomas Massie, opposed to the measure, and Democrats' support still needed to clear the Senate.

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On today's podcast:

1) President Donald Trump said the US economy faces “a period of transition,” deflecting concerns about the risks of a slowdown as his early focus on tariffs and federal job cuts causes market turmoil.

2) Mark Carney won the race to become Canada’s next prime minister, putting the former central banker in charge of the country just as US President Donald Trump’s administration threatens its economic future

3) President Donald Trump said Sunday he was negotiating with four different possible buyers for TikTok’s US business and that a deal for the social video app could come “soon.”

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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On today's podcast:

1) President Donald Trump exempted Mexican and Canadian goods covered by the North American trade agreement known as USMCA from his 25% tariffs, offering major reprieves to the US’s two largest trading partners.

2) China’s top diplomat accused Donald Trump of taking a hypocritical approach to bilateral ties and denounced tariffs, as tensions rise between the world’s largest economies.

3) Broadcom Inc. shares were on track for their biggest gain in 12 weeks in early trading after the chip supplier for Apple Inc. and other big tech companies gave an upbeat forecast, reassuring investors that spending on artificial intelligence computing remains healthy.

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On today's podcast:

1) President Trump hits reverse on auto tariffs for Canada and Mexico for now. The Trump administration is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, following pleas from industry leaders. The exemption applies to auto parts that comply with the USMCA trade pact. It comes as the president's set to meet with US tech leaders Thursday, whose companies also face the possibility of import tariffs and stricter export rules.

2) European leaders gather for an emergency summit on military defense. European leaders meet in Brussels for emergency talks on Ukraine and defense spending. They are discussing an EU proposal to unlock as much as €800 billion of funds across the bloc. Germany will seek a constitutional amendment to exempt defense from its budget limit.

3) A global bond selloff continues following Germany's historic spending plans. A global bond selloff continued due to Germany's spending plans, which are expected to reshape growth outlook on the continent. Investors are reacting to Germany's move to unlock hundreds of billions of euros for defense and infrastructure investments, which is expected to boost its economy and spill over to neighboring countries.

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On today's podcast:

1) President Trump promises golden age but warns tariffs could cause disturbance, President Trump defended his tariff plan, saying it would raise "trillions and trillions" in revenue and rebalance trading relationships, despite acknowledging potential economic pain. The president touted his tariff moves as effective in bringing jobs to the US, threatened to impose new tariffs, and announced plans for domestic energy production and an office of shipbuilding at the White House.

2) Trump calls for a repeal of the Chips Act. The president touted his tariff moves as more effective at bringing jobs to the US than Biden’s efforts, which included the Chips and Science Act and its billions in subsidies to spur domestic semiconductor manufacturing. Trump urged lawmakers to eliminate the Chips Act and said he would not give chipmakers any more funds from the law.

3) Job cuts are on the way at Disney. The Walt Disney Company is eliminating roughly 200 jobs across its ABC and entertainment TV networks, according to an internal memo. The majority of the cuts affect the ABC News division in New York. Production units including ABC News Studios, 20/20 and Nightline will be consolidated and the impacted employees will be notified on Wednesday, according to the memo.

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President Donald Trump acknowledged there may be an “adjustment period” as his tariffs take effect, but defended his push to remake the US economy and declared “momentum is back” in a primetime speech to Congress on Tuesday night.

“Tariffs are about making America rich again and making America great again. And it’s happening, and it will happen rather quickly,” Trump said in the longest-ever presidential address to a joint session. “There’ll be a little disturbance, but we’re okay with that. It won’t be much.”

Trump’s address comes at a pivotal moment. Data shows new strains on the economy as factory activity stagnates, inflation simmers, consumer confidence ebbs, and stocks lag behind equity markets in other countries.

Stocks swung wildly Tuesday following Trump’s most recent tariff actions against the US’s largest trading partners, with the S&P 500 Index closing at its lowest level since before the president’s election last year. Commerce Secretary Howard Lutnick hinted the administration might announce a pathway for tariff relief for goods from Mexico and Canada — two of the countries hit — that are covered by a free trade agreement as soon as tomorrow.

For instant reaction and analysis to President Donald Trump's joint address to Congress, plus Michigan Democratic Senator Elissa Slotkin's speech in response, Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz along with Bloomberg Surveillance cohost Annmarie Hordern speak with:

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Russia agreed to assist President Donald Trump’s administration in communicating with Iran on issues including the Islamic Republic’s nuclear program and its support for regional anti-US proxies, according to people familiar with the situation.
Trump relayed that interest directly to President Vladimir Putin in a phone call in February and top officials from his administration discussed the matter with their Russian counterparts at talks in Saudi Arabia days later, people familiar with the matter in Moscow said, declining to be identified because of the sensitivity of the issue. 
White House officials did not immediately respond to a request for comment. Neither Russia nor Iran have publicly confirmed or denied the request. 
Kremlin spokesman Dmitry Peskov said in response to questions sent by Bloomberg that “Russia believes that the United States and Iran should resolve all problems through negotiations” and that Moscow “is ready to do everything in its power to achieve this.” 
A spokesman for Iran’s foreign ministry, when asked if Russia had offered to mediate between Tehran and Washington, said only it was “natural” for countries to offer their assistance. 
“Given the significance of these matters, it’s possible that many parties will show good will and readiness to help with various problems,” the spokesman, Esmaeil Baghaei, said during a televised press conference Monday in Tehran. “From this perspective, it’s natural that countries will present an offer of help if it’s needed.” The ministry didn’t respond to questions from Bloomberg News. 
Since taking office about six weeks ago, Trump has tried to restore relations with President Vladimir Putin, which the US severed after Russia’s 2022 full-scale invasion of Ukraine. As Trump seeks to broker an end to that war directly with Putin — including a Feb. 12 phone call between the two leaders — both sides have signaled they’re open to cooperating on other geopolitical interests, including trade routes and resources in the Arctic. 
Top US and Russian officials, including Secretary of State Marco Rubio and Foreign Minister Sergei Lavrov, discussed Washington’s interest in Moscow helping with Iranian issues, during a Feb. 18 meeting in Riyadh, according to people with knowledge of the situation, asking not to be identified as not all details of those talks have been made public. 
Russia’s Lavrov later shared details about the US meeting with his Iranian counterpart Abbas Araghchi when they met in Tehran, Araghchi said in a televised press conference after the meeting.

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On today's podcast:

1) Trump Escalates Global Trade War, Sparking Tit-for-Tat Tariffs. President Donald Trump delivered on his threat to hit Canada and Mexico with sweeping import levies and doubled an existing charge on China, spurring swift reprisals that plunged the world economy into a deepening trade war. The US new tariffs — 25% duties on most Canadian and Mexican imports and raising the charge on China to 20% — impact roughly $1.5 trillion in annual imports, an expansive move signaling to markets that the Republican president is committed to wielding import duties to obtain fresh revenue and create domestic manufacturing jobs.

2) What Trump Aims to Achieve With His Tariffs. After promising during his election campaign to put import taxes back at the center of US economic policy, President Donald Trump moved swiftly once back in office, announcing significant new tariffs aimed at America’s trading partners. The tactics — implementing new tariffs and threatening others in an effort to intimidate or gain leverage on other disputes — represent a dramatic shift in a global economy where most major economies have sought to reduce trade barriers.

3) Trump Pauses Military Aid to Ukraine After Clash With Zelenskiy President Donald Trump ordered a pause to all US military aid to Ukraine, turning up the heat on Volodymyr Zelenskiy days after an Oval Office blowup with the Ukrainian president left support from his country’s most important ally in doubt. The US is holding up all pending military assistance until Trump determines Ukraine’s leaders demonstrate a good-faith commitment to peace, according to a senior Defense Department official, who asked not to be identified discussing private deliberations. The administration will also review the aid to make sure it’s contributing to a solution to the conflict, a White House official said.

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On today's podcast:

1) Europe races to support Ukraine after last week's Oval Office blowup. European leaders, including UK Prime Minister Keir Starmer, Italian counterpart Giorgia Meloni, and French President Emmanuel Macron, are working to rebuild relations between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy after a disastrous clash at the White House. The leaders are fast-tracking efforts to improve their own defense capabilities and are seeking to build a "coalition of the willing" to participate in peacekeeping forces and reassure Kyiv about the durability of any peace.

2) President Trump readies a barrage of tariffs on Canada, Mexico and China. President Donald Trump is planning to impose new tariffs on Canada and Mexico, and double a levy on China, which would apply to roughly $1.5 trillion in annual imports. The tariffs would put a 25% tariff on all imports from Canada and Mexico, except Canadian energy, which would face a 10% rate, and would also double a tariff on China to 20%.

3) Andrew Cuomo enters the race for New York City mayor. Andrew Cuomo, the former three-term governor of New York, has announced his candidacy for mayor of New York City, joining a crowded field of challengers vying to unseat incumbent Mayor Eric Adams. Cuomo's decision to run has upended the race, with several polls showing him leading the field, and he has touted his record during the Covid-19 pandemic despite criticism from both Republicans and some members of his own party.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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Plans to sign a critical minerals deal between the US and Ukraine were scrapped after Donald Trump’s meeting Friday with Volodymyr Zelenskiy quickly devolved into a fiery exchange over the Ukrainian leader’s doubts that the US president’s efforts to broker a deal with Russia would yield lasting peace.  

Zelenskiy departed the White House following the public spat, and a planned signing ceremony and press conference were canceled. 

US officials said the minerals deal - which Trump had cast as a necessary step to repay American support as he sought to broker a deal with Russia’s Vladimir Putin - was not signed before Zelenskiy’s departure. “He disrespected the United States of America in its cherished Oval Office.  

He can come back when he is ready for Peace,” Trump said in a social media post shortly before Zelenskiy’s departure. The Ukrainian leader angered Trump and US Vice President JD Vance when he said he did not believe the planned deal would do enough to deter further Russian aggression. “Putin will never stop and will go further and further,” Zelenskiy said, adding that the Russian leader “hates Ukrainians” and wanted to destroy the country. 

“We can do it, but it’s not enough,” he added of the deal. 

On this special edition of Balance of Power, hosts Joe Mathieu and Kailey Leinz get instant reaction and analysis to the dramatic moment between Trump and Zelenskiy in the Oval Office with:  

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On today's podcast:

1) China warned it would hit back at Donald Trump’s trade threats after the US president unveiled additional tariffs on Chinese imports, raising the risk of tensions spiraling between the world’s largest economies.“If the US insists on having its own way, China will counter with all necessary measures to defend its legitimate rights and interests,” a spokesperson for the Chinese Ministry of Commerce said Friday. In response to the last round of tariffs, the department previously vowed to take “corresponding” steps.

2) President Volodymyr Zelenskiy arrives at the White House on Friday with a personal appeal to persuade Donald Trump not to sell out his country in the rush to make a peace deal with Russia. The worst fears seemed to fade a bit on the eve of the trip, as the American president blithely walked back his denunciation of his Ukrainian counterpart as a “dictator” just last week.

3) A reading of US inflation due later today comes into sharper focus now that tariffs could be implemented sooner than anticipated, with any surprising increases likely to shake up the market. The Federal Reserve’s preferred inflation metric is expected to cool to the slowest pace since June. The core personal consumption expenditures price index — which excludes often-volatile food and energy costs — probably rose 2.6% in the year through January. Overall PCE inflation likely eased on an annual basis as well, according to the median estimate in a Bloomberg survey of economists.

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On today's podcast:

1) Nvidia Corp., the chipmaker at the center of an AI spending boom, delivered good-but-not-great quarterly numbers on Wednesday, drawing a muted response from investors accustomed to blowout results.

2) Chief Justice John Roberts temporarily let President Donald Trump keep freezing foreign-aid payments while the US Supreme Court weighs whether to lift an order that would require disbursement of as much as $2 billion.

3) Two-time Academy Award-winner Gene Hackman and his wife were found dead at their New Mexico home on Wednesday, the BBC reported, citing local police.

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On today's podcast:

1) Ukraine agreed with the US to jointly develop its wealth of natural resources as part of a deal that could ease tension with President Donald Trump and advance his administration’s goal of a ceasefire with Russia, people familiar with the matter said.

2) Chances for early action on Donald Trump’s tax cut plans improved as House Republicans passed a budget blueprint Tuesday calling for deep cuts in safety-net programs such as Medicaid.

3) Nvidia Corp. will deliver its highly anticipated fourth-quarter report on Wednesday, giving investors an update on AI spending at a time when the world’s biggest tech stocks have been in retreat.

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On today's podcast:

1) The US looks for further limits on China semiconductor access The Trump administration is planning to expand efforts to limit China's technological advancements, including tougher semiconductor curbs and pressuring allies to escalate restrictions on China's chip industry. The administration has met with Japanese and Dutch counterparts to restrict maintenance of semiconductor gear in China and is discussing sanctions on specific Chinese companies and further restricting chip exports to China.

2) President Trump breaks with allies on blaming Russia for the war in Ukraine The US and Russia voted against a European-backed resolution in the UN General Assembly that calls out Moscow's "full-scale invasion" of Ukraine exactly three years ago. The US and Russia later aligned in the Security Council to approve a US resolution calling for a "swift end" to the conflict without assigning blame, a stark reversal from policy under President Joe Biden.

3) President Trump says tariffs on Canada and Mexico are on track President Trump said tariffs scheduled to hit Canada and Mexico next month were "on time" and "moving along very rapidly." A US official cautioned that the schedule could be less certain, and the fate of the special 25% levy on Canada and Mexico was still to be determined.

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On today's podcast:

1) Trump Targets China With Biggest Salvo So Far in Second Term The Trump administration took aim at China with a series of moves involving investment, trade and other issues that raises the risk ties may soon worsen between the US and its top economic rival. In recent days, President Donald Trump has rolled out a memorandum telling a key government committee to curb Chinese spending on tech, energy and other strategic American sectors. The administration also called on Mexican officials to place their own levies on Chinese imports – a move that comes after some firms from the Asian nation shifted production to the US neighbor to avoid duties the Republican enacted in his first term.

2) Merz Wins Chance to Fix Germany and Steer EU Through Trump Era Germany’s next chancellor faces a daunting list of challenges to revive his country’s fortunes — but the rest of Europe is looking to him for leadership too. After his election win on Sunday, Friedrich Merz is set to take charge of Europe’s biggest economy with the US defense umbrella looking shakier than any time since the NATO alliance was founded and Donald Trump is discussing the continent’s security with Vladimir Putin.

3) Federal Agencies Tell Workers to Pause Reply to Musk Threat Several US government agencies have advised their employees to ignore for now a demand from Elon Musk’s government efficiency office to justify their jobs or face dismissal. The Pentagon and Department of Justice have told workers to pause on replying to the Trump administration’s email, citing potential legal pitfalls and agency autonomy.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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On today's podcast:

1) President Trump urges Republican governors to embrace his agenda as he reshapes Washington

President Donald Trump told Republican governors that implementing his agenda was key to their own political futures, arguing that embracing it could mitigate or even prevent losses in the midterm elections. Trump reiterated his agenda to key allies in the states ahead of crucial gubernatorial races in Virginia and New Jersey later this year, and in three dozen other states next year.

2) Israel warns Hamas over a murdered hostage it says was misidentified

Israel announced that a body returned as part of a ceasefire agreement with Hamas was not that of Shiri Bibas, a young mother taken hostage in October 2023.The remains of Shiri's two sons, Ariel and Kfir, were returned and identified, with the IDF stating that they were "brutally murdered by terrorists in captivity in November 2023."

3) New York Governor Hochul said she doesn't plan to remove New York City Mayor Eric Adams

Governor Kathy Hochul plans to establish "guardrails" on the Adams administration, including creating a state-level deputy inspector general for New York City and giving more legal power to non-mayoral officials. Hochul does not plan to remove Mayor Eric Adams for now, citing the will of the voters and the supremacy of democratic elections.

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On today's podcast:

1) Trump Says New China Trade Deal ‘Possible’ Despite Tensions President Donald Trump said it would be possible to reach a fresh trade deal with China, signaling he is open to heading off a brewing trade fight between Washington and Beijing.

2) Trump Turns on Zelenskiy, Leaving Ukraine Few Options Amid War Donald Trump’s turn against Volodymyr Zelenskiy leaves Ukraine no good alternatives as it heads into the fourth year of Russia’s full-scale invasion.

3) Trump to Halt NY Congestion Pricing by Terminating Approval The Trump administration is moving to block New York City’s congestion pricing program, reversing a federal approval granted last year and setting up a legal showdown over the tolling initiative.

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On today's podcast: 

1) President Trump floats 25 percent tariffs on auto, chip, and drug imports President Donald Trump said he would likely impose tariffs on automobile, semiconductor, and pharmaceutical imports of around 25%, with an announcement coming as soon as April 2. Trump wants to give companies "time to come in" before announcing new import taxes, and said that when they come into the US and have their plant or factory here, there is no tariff.

2) The US says sanctions will remain on Russia for now after a high-level meeting on Ukraine Secretary of State Marco Rubio told European allies that the US will keep sanctions on Russia in place at least until a deal to end the Ukraine conflict is reached. President Donald Trump said he'll probably meet Vladimir Putin to discuss a settlement before the end of February, and signaled support for holding new elections in Ukraine after an agreement.

3) New York Mayor Eric Adams's political future heads to federal court A federal judge has scheduled a hearing on the Justice Department's request to drop corruption charges against New York City Mayor Eric Adams and wants an explanation for the request. The Justice Department's decision to abandon the prosecution was made despite the objections of some prosecutors, who resigned rather than carrying out the directive, and has been criticized as a "corrupt quid pro quo" for Adams' support of the Trump administration's immigration policies.

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On today's podcast:

1) Ukraine peace talks between the US and Russia begin in Saudi Arabia Top US and Russian officials met in Saudi Arabia to discuss ending the war in Ukraine, without Ukraine's participation. It follows a landmark phone call between President Donald Trump and Russian President Vladimir Putin, which could pave the way for a summit between the two leaders as soon as next week.

2) 80 people survive after a Delta plane flips while landing in Toronto A Delta Air Lines regional jet flipped out of control after landing in windy, freezing conditions in Toronto, injuring 15 people, three critically. The plane, which was flying from Minneapolis/St. Paul to Toronto-Pearson International Airport, had 76 passengers and four crew on board.

3) President Trump's government efficiency push leads to more high-profile resignations President Trump's push to rein in the federal government is leading to more high-profile clashes. According to the Washington Post, the acting head of the Social Security Administration resigned over the weekend, following a dispute with Elon Musk's government efficiency team over its attempts to access sensitive government records.

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On this special holiday edition of Bloomberg Daybreak US edition, host Nathan Hager speaks with Stephen Schork, founder of the Schork Group, shares his outlook for the energy sector and the oil industry, Eric Balchunas, Bloomberg Intelligence analyst on the market outlook under a new Trump administration and Arun Sundaram at CFRA looks ahead to Walmart earnings.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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On today's podcast:

1) President Trump rolls out plans for reciprocal tariffs on a host of trading partners President Trump has ordered his administration to consider imposing reciprocal tariffs on numerous trading partners to rebalance trade relations. The tariffs would be customized for each country, aiming to offset not just their own levies on US goods but also non-tariff barriers, and could take weeks or months to complete. The move is seen as a potential opening bid for negotiation, and Trump hopes to have a discussion with other nations about how existing policies have created an imbalanced trade environment.

2) The White House intensifies efforts to shrink the federal workforce The Trump administration is advising federal agencies to lay off thousands of probationary employees, with some exceptions, as part of its effort to rapidly downsize the federal government. Agencies such as the General Services Administration and the Department of Energy are making cuts, with the latter planning to dismiss 90% of its probationary employees for poor performance.

3) TikTok is back on the Apple and Google app stores Apple and Alphabet’s Google are restoring ByteDance TikTok to their app stores following assurances in a letter from US Attorney General Pam Bondi that a ban wouldn’t immediately be enforced. The two companies had removed TikTok in the US last month to comply with a law passed in 2024. By Thursday evening, the software had returned to the Apple App Store and Google Play store.

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On today's podcast:

1) President Trump speaks to Vladimir Putin with hopes of ending war in Ukraine President Donald Trump had a phone call with Russian President Vladimir Putin to start negotiating an end to the war in Ukraine, a shift from the previous US policy. The call and subsequent statements from Trump's administration have caused concern among European allies, who fear the US is giving in to Putin's demands without getting anything in return.

2) Trump's buyout offer to federal workers gets green light but may come up short About 75,000 federal employees signed up for a voluntary resignation program, falling short of the White House's goal of 5% to 10% of the 2.4 million civilian federal workforce. The resignation program, known as "Fork in the Road," closed after a federal judge lifted his order freezing the program, with any resignations received after 7:20 p.m. Washington time not being accepted.

3) The Senate confirms Tulsi Gabbard as next Director of National Intelligence Gabbard won support from key Republicans, including Senate Intelligence Committee Chairman Tom Cotton, due to her plans to slim down the organization and cut duplication. Gabbard has promised to "encourage a culture where tough questions, scrutiny and challenging of assumptions is welcome" and has defended her willingness to question US intelligence, citing her military experience and rejection of "regime-change wars".

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On today's podcast:
1) Trump Directs Federal Job Cuts as Musk Defends DownsizingPresident Donald Trump directed agencies to work with Elon Musk’s government cost-cutting effort to slash their workforces, according to a White House official, his latest move to gut the federal bureaucracy.Trump’s action orders agency heads to coordinate with Musk’s Department of Government Efficiency to “significantly reduce the size of the government” and “limit hiring to essential positions,” according to a White House fact sheet seen earlier Tuesday by Bloomberg News.
2) Trump Hails Russian Release of American as He Preps Peace PlanPresident Donald Trump hailed the release of an American who had been detained in Russia, saying he hoped the move would allow the two nations to work toward ending the war in Ukraine.“I think there’s goodwill, in terms of the war,” Trump said as he greeted Marc Fogel, a school teacher held in Russia since 2021. “I think this could be the very important element, you could be a big part of it, actually, because it could be a big, important part of getting the war over with Ukraine.”
3) US Core Inflation Seen Rising at Firm Pace in JanuaryInflation likely remained stubborn last month based on economists’ estimates, backing the Federal Reserve’s patient approach to lowering borrowing costs.The so-called core consumer price index that excludes food and energy is seen rising 0.3% in January from December in the Bureau of Labor Statistics report due Wednesday. From a year earlier, core CPI likely increased 3.1%, according to the median forecast in a Bloomberg survey.

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On today's podcast:

1) Trump Sets 25% Steel, Aluminum Tariffs, Widening Trade War

President Donald Trump ordered a 25% tariff on steel and aluminum imports, escalating his efforts to protect politically important US industries with levies hitting some of the country’s closest allies.

The tariffs will apply widely to all US imports of steel and aluminum, including from Canada and Mexico, among the country’s top foreign suppliers of the metals. The levies, which also include finished metal products, are meant to crack down on what administration officials said were efforts by countries like Russia and China to circumvent existing duties.

2) EU Says It Will Impose Countermeasures Against US Tariffs

The European Union vowed to respond to 25% tariffs President Donald Trump said the US will impose on steel and aluminum imports, escalating a potential trade dispute with one of Washington’s closest allies.

“I deeply regret the US decision to impose tariffs on European steel and aluminum exports,” European Commission President Ursula von der Leyen said in a Tuesday statement. “Unjustified tariffs on the EU will not go unanswered — they will trigger firm and proportionate countermeasures.”

3) Altman Says ‘No Thank You’ to Musk-Led Group’s OpenAI Bid

A group of investors led by Elon Musk has offered to buy the nonprofit that controls OpenAI for $97.4 billion, escalating a clash between the Tesla chief executive and the artificial intelligence company he co-founded.

With the unsolicited bid, Musk said he hopes to return OpenAI to being “the open-source, safety-focused force for good it once was,” according to a statement. In response, OpenAI Chief Executive Officer Sam Altman posted on Musk’s X social-media platform: “No thank you but we will buy twitter for $9.74 billion if you want.”

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On today's podcast:

1) Eagles Defeat Chiefs 40-22 To Win Their Second Super Bowl

 A ferocious Philadelphia Eagles defense tormented and frustrated Patrick Mahomes while Hurts made all the plays the offense needed. So much for the Kansas City Chiefs’ quest for a Super Bowl three-peat. It wasn’t even close. Cooper DeJean got a pick-6 on his 22nd birthday, Josh Sweat pressured Mahomes all night and the Eagles routed the Chiefs 40-22 on Sunday to secure the franchise’s second Super Bowl championship.

2) Trump Plans Tariffs on Steel, Aluminum Imports

President Donald Trump plans to impose 25% tariffs on all imports of steel and aluminum into the US, broadening his trade restrictions to some of the country’s top trading partners and seeking to protect domestic industries that helped him win battleground states last year.

3) BP Shares Jump After Activist Investor Elliott Builds Stake 

BP Plc shares surged the most since 2020 after one of the world’s most aggressive activist investors built a stake in the company, seeking to end years of under-performance. Elliott Investment Management, led by Paul Singer, has amassed a significant holding in the British energy giant, Bloomberg reported on Saturday. This is typically the first step in a playbook it has deployed to successfully push for change at many other big public companies. Over the years, the fund’s efforts have led to strategy shifts, CEO departures and even corporate breakups.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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On today's podcast:

1) Judge Temporarily Halts Trump, Musk Federal Worker ‘Buyout’ A judge temporarily delayed the deadline for millions of federal workers to decide whether to accept the Trump administration offer to resign with the promise of months of full pay.

2) Amazon, Echoing Microsoft, Says It Can’t Keep Up With AI DemandAmazon.com Inc. warned investors that it could face capacity constraints in its cloud computing division despite plans to invest some $100 billion this year.

3) Alaska Crash Marks Third Air Tragedy in US in Just Two WeeksA plane carrying 10 people that went missing in rural Alaska on Thursday during bad weather looks set to be the third deadly aviation disaster in the US over a span of just two weeks.

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On today's podcast:

1) GOP Senators Break With House Over Trump’s Budget Strategy

2) Musk ‘Buyout’ Taken by 40,000 Federal Workers as Deadline Nears

3) Bessent Says Trump Wants Lower 10-Year Yields, Not Fed Cuts

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On today's podcast:

1) President Trump calls for US to take over the Gaza Strip

2) Apple caught in cross hairs of US-China trade tensions

3) Tech shares lower on disappointing earnings from Alphabet and AMD

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On today's podcast:

1) China Hits Back Against Trump’s Tariffs With Targeted Actions

2) UBS Extends Decline as Executives Discuss Capital Rules

3) Netanyahu Set for Trump Meeting With Fragile Grip on Power

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On today's podcast:

1) President Trump says Americans could feel economic pain as he readies for trade war

2) The dollar surges to a two year high as Canada, Mexico, and China brace for new duties 

3) Stocks sell off around the world while crude oil rallies

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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On today's podcast:

1) American Airlines DC Aircraft Collision Leaves No Survivors

2) Trump Barrels Toward Tariff Showdown With Canada, Mexico, China

3) Apple Forecast Cheers Investors After Mixed Holiday Results

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Bloomberg's Carol Massar and Tim Stenovec discuss the latest Big Tech earnings featuring Apple and Intel. They speak with:

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On today's podcast:   
1) American Airlines Plane Collides With Helicopter Near DC Airport   
2) Meta Shares Gain on Mark Zuckerberg’s Positive AI Comments   
3) Microsoft Cloud Growth Constrained by Data Center Shortage

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Bloomberg's Carol Massar and Tim Stenovec discuss the latest Big Tech earnings featuring Tesla, Meta and Microsoft. They speak with:

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Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.

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On today's podcast:

1) Trump Offers Buyouts to Workers Balking at Return to Office

2) Investors Await Mag 7 Earnings & Fed

3) Microsoft Probing If DeepSeek-Linked Group Obtained OpenAI Data

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On today's podcast:

1) DeepSeek Shows China Playbook to Deal an Even Bigger Shock to US

2) World’s Richest People Lose $108 Billion After DeepSeek Selloff

3) Trump Vows Tariffs ‘Much Bigger’ Than 2.5% and on Key Areas

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On today's podcast:   
1) DeepSeek Shakes Up Stocks as Traders Question US Tech Valuations   

2) Trump to Hold Off on Colombia Tariffs After Deal on Migrants   

3) Trump Ramps Up Deportation Machine With Raids Targeting Chicago

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Just as mobile banking revolutionized our relationship with our money and led to a plethora of new tools for management and investing, the proliferation of crypto and blockchain technologies have opened up all manner of new investment opportunities that go far beyond what early Bitcoin adopters could’ve imagined.

This episode is sponsored by Coinbase.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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On today's podcast:

1) President Trump says he would prefer not to impose tariffs on China

2) Trump to speak with Fed Chair Jay Powell about cutting rates

3) Senators may be working overtime to get Trump's Cabinet appointees confirmed

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On today's podcast:

1) President Trump gets set to address the world's elite at Davos

2) Ukraine's President Zelenskiy says any effective peacekeeping force must include US troops 

3) Firefighters battle to maintain another rapidly-moving wildfire near Los Angeles

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On today's podcast:

1) Netflix Posts Record Quarter Thanks to Sports, ‘Squid Game’

2) Trump Widens Tariff Threats to China and Europe

3) Trump Pushes to Make US an AI Superpower

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Netflix closed 2024 with its biggest quarterly subscriber gain in history, benefiting from its first major live sporting events and the return of Squid Game.The company added 18.9 million customers in the fourth quarter, according to a shareholder letter Tuesday. That was more than double what Wall Street expected and brought global subscribers at Netflix to more than 300 million. The company’s previous best was 15 million in the first quarter of 2020 — numbers driven by the onset of the coronavirus pandemic. For instant analysis and reaction, hosts Carol Massar and Tim Stenovec speak with Bloomberg Technology Co-Host Caroline Hyde and Bloomberg Intelligence Technology and Media Analyst Geetha Ranganathan.

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On today's podcast:

1) Trump Signs Sweeping Actions to Deport Migrants, Tighten Border

2) Stocks Whipsaw, Dollar Rises on Trump Warnings

3) TikTok Ban Paused for 75 Days by Trump Executive Order

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Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the inauguration of President Donald Trump.

On this edition, Joe and Kailey speak with:

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In this Martin Luther King Jr Holiday special edition of Bloomberg Daybreak with Nathan Hager:

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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On today's podcast:

1) Netanyahu Says Israel-Hamas Deal to Pause Gaza War On Track

2) Bessent Clears Senate Grilling, Paving Way for Confirmation

3) Apple, Amazon, Netflix to Stream LA Fires Charity Concert

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On today's podcast: 

1) Israel Says New Demands by Hamas Casting Doubt on Gaza Deal

2) Bessent to Say Dollar’s Global Status Is Critical to US Economy 

3) Big Bank Earnings Continue

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On today's podcast:

1) LA Faces High Winds and No Sign of Rain After Week of Flames

2) Musk Accused by SEC of Cheating Twitter Holders Out of Millions

3) Big Bank Earnings Begin

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On today's podcast:

1) Fire-Scarred Los Angeles Braces for More Extreme Wind

2) DOJ Report Says Trump Would Have Been Convicted in Election Case

3) China Weighs Sale of TikTok US to Musk as a Possible Option

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