Trump Orders Minneapolis Pullback; US-Iran Talks Set for Friday

Bloomberg Audio Studios, Podcasts, Radio News.
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Karen, we begin in Washington, where President Donald Trump has
carried out an annual tradition. The President sat down for
a wide ranging interview ahead of the Super Bowl with
NBC News. The discussion covered an array of topics, including
the situation in Minneapolis after the deaths of two Americans
by federal agents. President Trump says immigration enforcement in the
city needs a softer touch.
Look, I'm not happy with the two incidents. It's not
you know, it's both of them, got one or the other.
He was not an angel and she was not an angel.
You know, you look at some tapes from back. But still,
I'm not happy with what happened there. Nobody could be happy.
And Ice wasn't happy either.
President Trump says he personally decided to pull seven hundred
agents from Minnesota yesterday. That's still he was about two
thousand federal agents in the Twin Cities area. A Quinnipiac
University poll shows sixty three percent of voters disapprove of
the way ICE's enforcing immigration laws, though seventy seven percent
of Republicans approve. Sixty one percent think the Trump administration
has not given an honest account of Alex Pretty's shooting Nathan.
President Trump also discussed geopolitics in the NBC News interview.
The President had a message for Iran Supreme leader ahead
of indirect talks with the country tomorrow.
I would say he should be very worried. Yeah, he
should be. As you know, they're negotiating with US.
And President Trump has threatened military action against Iran if
it does not reach a deal on its nuclear program.
The White House says both sides still plan to meet
in Oman tomorrow. President Trump also touched on his hour
long call yesterday with Chinese President Hijin Ping. He said
they covered a lot of topics and that it's important
that both leaders have a good relationship.
The ker in the Federal Reserve also came up in
President Trump's interview. NBC's Tom Lamas asked if infestrate policy
wait on the President's decisions sho replace Chair J Powell
with former Fed Governor Kevin Walsh.
I mean it became an he said, I want to
raise him. We should said that you wouldn't have gotten
a job he would not have gotten a job.
No.
President Trump says he believes the FED is an independent
body in theory, but he also says he's a smart
guy whose predictions on the economy should be considered well.
Sticking with politics here, Nathan Today, voters in northern New
Jersey was select nominees and a special Democratic congressional primary
to replace Governor Mikey Cheryl in the Republican led US House.
Bloomberkeleysa Matteo has more on the lineup of contenders.
It's quite the crowded list eleven candidates. To be exact
in the spotlight is labor activist on Alilia Meheya, who
has called for abolishing ice and taxing the rich in corporations.
She's landed endorsements from Bernie Sanders, Alexandria Ocasio Cortes, and
multiple unions, and uses the same social media firm that
helped New York City Mayor Zor Mumdani go viral on TikTok.
Among the higher profile contenders are former Congressman Tom Melanowski,
Essex County Commissioner Brendan Gill, endorsed by former Governor Phil Murphy,
and Tahisha Way, Murphy's former lieutenant governor. The winner will
face the only candidate in the Republican primary, Randolph Township
Mayor Joe Hathaway. On April sixteenth, Lisa Matteo Bloomberg.
Radio, all Right, Lisa, thank you now. The latest on
the missing mother of NBC Today's Show host Savannah Guthrie.
She sent a public message to her mother's kidnapper, saying
her family is ready to talk, but wants proof that
she's alive.
We live in a world where voices and images are
easily manipulated. We need to know without a doubt that
she's alive and that you have her.
Savannah Guthrie's eighty four year old mother, Nancy, was last
seen Saturday around nine forty five PM, when she was
dropped off at her home in Arizona by family.
After dinner, Nathan returned to the markets. Now there's been
a momentary pause to the global tech selloff. Nasdaq futures
are higher after the index erased its gains for the
year over the past two sessions. Traders are weighing whether
the flight from tech has been excessive amid concerns of
our disruption from artificial intelligence, lofty valuations and vast capital outlais.
This morning, shares of Alphabet are down more than two
and a half percent. The Google parirent did top quarterly
revenue estimates, but says capital spending on AI will be
significantly higher than anticipated. CEO Sundar Prashai says the money
will deliver a return on investment.
Revenue from AI solutions built by our partners increased nearly
three hundred percent year over year, and commitments from our
top fifteen software partners grew more than sixteen x year
over year.
In Alphabet, CEO Sundar Pashai says capital expenditure could come
close to one hundred eighty five billion dollars this year,
compared with the almost one hundred twenty billion analysts had expected.
Well stinking with company news, Karen, Shares of qualk, Harm
and ARM are both tumbling. In early trading, the semiconductor
company signaled a shortage of memory chips will crimp growth
in the electronics industry, and now shares of Qualcom are
down ten and a half percent. ARM is lower by
more than seven percent.
Nathan, The big tech earnings continue today, with Amazon reporting
after the bell, and we get a preview with Bloomberg's
Tom Busby.
Amazon dot Com is expected to show steady twenty one
percent revenue growth and its Amazon Web Services cloud computing
division amid heavy spending on artificial intelligence, hatspurs, bread and
butter e commerce unit. Analysts expect the company benefited from
resilient holiday spending despite a thirty five day long government
shutdown and a slump in consumer confidence. Bloomberg insensus calls
for revenue of two hundred and eleven point forty nine
billion dollars on earnings per share of a dollar ninety six.
Tom busby Bloomberg Radio.
All right, Tom, thank you. All is not calm in
markets this morning, outside of tech. Precious metals are in
focus once again. Let's get the very latest from Bloomberg's
John Tucker. John, good morning, Good.
Morning, Nathan. Yes, silver, Let's start there. That plummeted as
much as seventeen percent as the commodity is struggling to
find a floor following this historic route. It's nicknamed the
Devil's Medal for a reason, Nathan. Its price is volatile,
and it's led to financial ruin for more than one
speculator after a record breaking a rally that appeared to
run too far and too fast. The medal has retreated
by more than a third from its all time high
January twenty ninth. Gold has fallen below forty nine hundred
dollars an ounce. The precious metals swored last month in
a rally underpinned by speculative momentum, geopolitical upheaval, and concerns
about the Fed's independence. In New York, I'm John Tucker
Bloomberg Radio.
Time Now for a look at some of their stories
making news in New York and around the world. And
for that we're joined by Bloomberg's Michael Barr.
Michael, good Morning, Good morning Karen. Business leaders, labor groups,
and transit advocates are calling on the Trump administration to
restore funding to a sixteen billion dollar rail tunnel that
links New Jersey and Manhattan. The Gateway Development Commission has
warned that it must stop work on the tunnel by
tomorrow unless the US Department of Transportation immediately releases federal
funding tied to the project under the Hudson River. New York,
New Jersey and the Gateway Development Commission have sued the
Trump administration to restore funding The partial government shutdown is
now over, but the fight over a new round of
funding for the Department of Homeland Security is just getting started.
Lawmakers have under two weeks to reach a bipartisan decision.
Arizona Democratic Senator Reuben Guyago.
I'm not optimistic, not from what I've heard so far,
but from what I hear from the American public.
They think ICE has gone overboard.
Democrats are calling for judicial warrants before ICE would make arrests.
They're also calling for a ban on ICE agents wearing
face masks and make agents where by cameras. Alabama Republican
Senator Kate Britt, so.
We're putting the safety and security of the American people first.
What Republicans will not do is change the law. What
Publicans are not going to do is not enforce the law.
Senator Britt says, we got here because of rhetoric from
the left. Officials from the self driving vehicle industry appeared
before Congress responding to reports of Waymo vehicles not stopping
for school buses in Austin. Texas Safety chief Maurici Opinya
says they've already updated their safety software.
Safety is are top priority, especially safety of children and pedescans.
It comes just a few weeks after a Waymo vehicle
hit a child who'd suddenly entered the roadway in Santa Monica,
which has prompted a federal investigation. Officials from TESLA and
the Autonomous Vehicle Industry Association also testified Global News twenty
four hours a day and whenever you want it with
Bloomberg News Now Michael Barr and this is Bloomberg Karen.
Thanks Michael, time now for our Bloomberg Sports update, and
for that we bring in John stash Hour.
Thanks Darn Moore. NBA trades ahead of today's deadline. Chris
toms Porzingis goes from Atlanta to Golden State in exchange
for Joseph Kaminga who was unhappy with the Warriors, as
well as Buddy Heal. This means the Warriors are no
longer interested in acquiring Jannisntatocompo from Milwaukee. Anthony Davis goes
from Dallas to Washington part of an eight player trade.
In a hockey trade, the Rangers dealt free agent to
b R Timmy Peneran to the LA Kings in a
baseball free agent signing fran Burg Valdez with Detroit. That's
your Bloomberg Sports Update.
Stay with us. More from Bloomberg day Break coming up
after this.
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business opp This is Bloomberg Daybreak.
Good morning.
I'm Nathan Hager, Minnesota, Iran the Fed. All of that
and more came up been President Donald Trump's wide ranging
interview with NBC News, portions of which aired last night,
ahead of the Super Bowl and months before a midterm election. Now,
the President says, when it comes to the deaths of
two Americans in Minneapolis.
I'm not happy with what happened there. Nobody could be happy,
and Ice wasn't happy either. But I'm going to always
be with our great people of law enforcement.
That was President Trump in the interview with NBC's Tom Lamas.
We're joined this morning by Terry Haynes, the founder of
Pangaea Policy and Terry, I'm just be curious to get
your thoughts on whether a Super Bowl interview returning to
this tradition for a president is something that resonates with voters,
particularly at this moment for the president.
Good morning, Hi, Good morning, Nathan. I don't think it
hurts him at route. And it is a good thing
that he's returning to this tradition, and it's a good
thing that he gave NBC a good deal of time
on this, and you know, people deserve to hear his
voice kind of cutting through the the cacophony on all
these subjects. So yeah, I do think it's a good thing.
And in terms of the President's comments about the situation
in Minneapolis, he says he made the personal decision to
pull the seven hundred federal agents yesterday, he says it
needs a softer touch. Now what is he doing in
terms of overcoming this political backlash that we are seeing
playing out in the polls.
Well, I think it's a good thing generally that the
President understands that the enforcement process up there was certainly
overreached and to put it mildly, and that he made
that decision. You know, it's just just as the bad
decisions ultimately come to roost to his detriment, the good
decisions help him. And you know, as I say, fundamentally,
it's a you know, I think that's a good thing
that they kind of ramp up the method of enforcement
going forward. On the prospects for ICE, DHS continued funding, though,
I think Congress has got in the White House have
a huge lift, because you've got the temptation on both
sides to overreach and include other things other than the
matter at hand how ICE does its job, And you've
got a potential goals mismatch where if Republicans seem to
be more united on figuring out exactly what kind of
guardrails I should have, you've got Democrats, I think, all
over the place here, some saying they'refore guardrails, Others want
to defund, others want to keep away from other issues
like sanctuary cities. So I think this is going to
be a difficult lift, And politically, Democrats run the risk
of turning something that they want to keep as an
advantage into looking like their immigration enforcement opponents or homeland
security enforcement opponents. So it's a delicate mix, and I
think people would be well on both sides would be
well advised to kind of keep to the subject of
how ICE does its job.
Just thirty seconds left, Terry, we also heard the President
say he wouldn't have picked Kevin Warsh's FED chair if
he wanted to raise interest rates? What's the message to
markets when it comes to FED independence.
The message on FED independence, I think doesn't come from
the President, which is kind of the usual stuff, comes
from the Senate. You've got not only Banking Committee member
till Is saying he's not going to confirm until the
Pale investigations dropped. But I think it was a very
big thing from Tim Scott, the Banking Committee Chairy yesterday,
basically giving the Trump people a fig leaf in order
to get out of this kind of get rid of
the Pale investigation. The signal there is not only is
Warsh very likely to be confirmed, but Trump should back
off trying to warp or destroy FED independence because that's
Conquerc's agent.
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