Stocks Rally Into Christmas Break; Biden to Decide US Steel Fate

Bloomberg Audio Studios, Podcasts, radio news. 0:00:09.680 --> 0:00:11.640 Good morning, I'm Nathan Hager and. 0:00:11.520 --> 0:00:14.640 I'm Karen Moscow. Here are the stories we're following today. 0:00:15.040 --> 0:00:15.400 Thank care. 0:00:15.520 --> 0:00:18.120 We begin with our focus on the markets this morning, 0:00:18.120 --> 0:00:20.720 as we head into the Christmas holiday. It is going 0:00:20.760 --> 0:00:23.280 to be a short trading session on Wall Street today. 0:00:23.400 --> 0:00:26.360 The stock market closes at one pm Wall Street Time. 0:00:26.480 --> 0:00:30.720 Bond trading wraps up at two. Yesterday was a familiar scenario. 0:00:30.840 --> 0:00:34.400 The Magnificent seven stocks led the charge. A gauge of 0:00:34.440 --> 0:00:37.720 the mags seven megacaps rows almost one and a half percent. 0:00:38.320 --> 0:00:41.800 Gene Munster, managing partner at Deepwater Asset Management, says it 0:00:41.840 --> 0:00:44.720 may be choppy, but twenty twenty five will still be 0:00:44.880 --> 0:00:46.919 another good year for big tech. 0:00:47.159 --> 0:00:50.360 There's an important nuance to how the market I think 0:00:50.360 --> 0:00:53.040 plays out in twenty twenty five is that during that 0:00:53.120 --> 0:00:56.400 run from ninety six to two thousand, there were ten pollbacks. 0:00:56.440 --> 0:00:58.680 There's twelve pullbacks from ninety five to two thousand, so 0:00:58.840 --> 0:01:02.160 ten pullbacks, so about two per year is what we 0:01:02.240 --> 0:01:04.720 saw ten percent or greater on the Nasdaq. And I 0:01:04.720 --> 0:01:08.880 would just say this is really healthy for these multi 0:01:09.040 --> 0:01:12.640 year runs to have these pullbacks and so I'm anticipating, 0:01:12.680 --> 0:01:15.119 as I said, a couple of those, and what's the 0:01:15.160 --> 0:01:17.840 catalyst that does that. It's always hard to predict, but 0:01:17.959 --> 0:01:20.240 we're going to get those, and I still continue to 0:01:20.240 --> 0:01:22.680 believe we're going to end twenty five much higher on 0:01:22.720 --> 0:01:23.880 the Nasdaq than we started. 0:01:24.360 --> 0:01:27.360 Deep Water Asset Managements Gene Winster notes the SMP five 0:01:27.440 --> 0:01:29.959 hundred his orsen twenty five percent this year, with the 0:01:29.959 --> 0:01:33.120 top seven big tech stocks accounting for more than half 0:01:33.360 --> 0:01:34.000 that advance. 0:01:34.840 --> 0:01:37.920 Well Nathan asked for individual stocks this morning. He shares 0:01:37.959 --> 0:01:41.240 of Honda, so we're twelve percent in Asia. The carmaker's 0:01:41.240 --> 0:01:45.360 announcement of a seven billion dollar stock buyback is offsetting 0:01:45.400 --> 0:01:49.560 concerns about its plans to acquire rival Nissan. Bloomberg News 0:01:49.600 --> 0:01:53.520 automotive editor Craig Trudell says shareholders in both companies may 0:01:53.560 --> 0:01:54.920 be questioning the move. 0:01:55.160 --> 0:01:58.800 Real questions about just how happy shareholders across the various 0:01:58.800 --> 0:02:01.160 companies involved are going to be with this. To put 0:02:01.160 --> 0:02:03.320 it plainly, I mean, this is really Honda coming to 0:02:03.400 --> 0:02:06.720 Nissan's rescue. Honda, will you take the lead and forming 0:02:06.760 --> 0:02:09.880 this holding company that Nissan will be a part of. 0:02:10.200 --> 0:02:13.760 Maybe Mitsubishi motors will join and the big question is, 0:02:13.800 --> 0:02:15.760 you know where does Renault stand in all this as 0:02:15.960 --> 0:02:17.359 Nissan's biggest shareholder. 0:02:17.680 --> 0:02:20.639 Bloomberg's Craig Trudell says the agreement will create one of 0:02:20.639 --> 0:02:23.720 the world's largest car makers, helping the firms compete with 0:02:23.880 --> 0:02:27.160 Chinese manufacturers and Japanese heavyweight Toyota. 0:02:27.400 --> 0:02:30.440 Well Karen, another well known brand on our shores, is 0:02:30.480 --> 0:02:33.280 in the news this morning. The Nordstrom family is joining 0:02:33.360 --> 0:02:36.560 forces with a Mexican retailer to take its namesake department 0:02:36.600 --> 0:02:39.400 store private. It's going to be an all cash transaction 0:02:39.600 --> 0:02:43.120 valued at about six and a quarter billion dollars including debt. 0:02:43.440 --> 0:02:46.400 Dana Telsey covers retail for Telsey Advisory Group. 0:02:46.720 --> 0:02:50.120 The privatization of a family run business that's been around 0:02:50.120 --> 0:02:53.720 for over one hundred years is definitely a spark of change. 0:02:53.960 --> 0:02:56.720 I think the new environment today is different than it 0:02:56.880 --> 0:02:59.560 was in the past, and you have to give Nordstrom 0:02:59.600 --> 0:03:02.720 credit for all that it's accomplished, but the go forward 0:03:03.160 --> 0:03:08.000 environment requires big changes and whether it is a reduction 0:03:08.120 --> 0:03:10.520 in the number of full line stores they have, the 0:03:10.600 --> 0:03:14.480 acceleration of what may be for the rack, the continuous 0:03:14.520 --> 0:03:18.360 pursuit of new and curated brands and their assortment. For 0:03:18.440 --> 0:03:21.800 all what we know about Nordstrom, the service element and 0:03:21.840 --> 0:03:25.000 the loyal customers they have is something that needs to 0:03:25.040 --> 0:03:29.400 be expanded and accelerated go forward, after all that they've accomplished. 0:03:29.560 --> 0:03:33.040 Retail analyst Dana Telsea notes Nordstrom's annual revenue peaked at 0:03:33.120 --> 0:03:36.520 nearly sixteen billion dollars in twenty nineteen. The company was 0:03:36.600 --> 0:03:39.520 hit hard by COVID nineteen. It's never returned to its 0:03:39.600 --> 0:03:42.360 pre pandemic hyhes, and Nordstrom shares fell one and a 0:03:42.400 --> 0:03:43.640 half percent yesterday. 0:03:44.120 --> 0:03:47.840 Well, Nathan, a US national security panel has deadlocked and 0:03:47.880 --> 0:03:51.200 its review of the sale of US Steel to Nippon Steel. 0:03:51.240 --> 0:03:53.200 Let me get more with Bloomberg's dun Krisner. 0:03:53.560 --> 0:03:56.080 We're told the Committee on Foreign Investment in the US 0:03:56.240 --> 0:03:59.480 delivered its final evaluation to the White House late Monday, 0:03:59.680 --> 0:04:03.200 and as of that moment, President Biden has fifteen days 0:04:03.240 --> 0:04:06.720 to announce a decision. Now, he's long indicated his opposition 0:04:06.800 --> 0:04:09.960 to this deal, and he's repeatedly said US deal should 0:04:10.000 --> 0:04:14.120 remain domestically owned and operated. Even so, the White House 0:04:14.240 --> 0:04:17.120 is never said flatly that Biden would block it. The 0:04:17.120 --> 0:04:20.760 companies have signaled they planned a challenge any refusal in court. 0:04:21.279 --> 0:04:23.560 President elect Tromp has said he would block it, but 0:04:23.640 --> 0:04:26.760 the timeline means it would be resolved before he takes 0:04:26.800 --> 0:04:29.719 office in New York. I'm Doug Prisoner Bloomberg Radio. 0:04:29.920 --> 0:04:33.000 Okay, Doug, thank you. Former President Bill Clinton is in 0:04:33.080 --> 0:04:36.240 a hospital in Washington, d C. This morning after developing 0:04:36.279 --> 0:04:38.880 a fever, and AID says he was admitted to Georgetown 0:04:38.960 --> 0:04:42.400 University Medical Center for testing and observation. The aide says 0:04:42.480 --> 0:04:45.479 the seventy eight year old former president is in good spirits. 0:04:45.680 --> 0:04:48.120 Bill Clinton has had a number of health issues since 0:04:48.120 --> 0:04:50.880 he left office. He had quadrupled bypass surgery in two 0:04:50.920 --> 0:04:53.719 thousand and four. In twenty twenty one, he was in 0:04:53.760 --> 0:04:56.440 the hospital for six days due to an infection. 0:04:57.200 --> 0:05:00.240 Well now to the latest on that Trump transition, then, 0:05:00.279 --> 0:05:03.840 two top advisors to Donald Trump's campaign are joining an 0:05:03.839 --> 0:05:08.120 outside group to promote his agenda as president. Chris Lasovita 0:05:08.320 --> 0:05:12.040 was the campaign's co manager and Tony Fabrizio was its pollster. 0:05:12.480 --> 0:05:16.040 They'll now both be senior advisors in the Building America's 0:05:16.080 --> 0:05:20.280 Future super pac. The group has already been influential. Last year, 0:05:20.320 --> 0:05:23.160 it gave twenty eight point three million dollars to a 0:05:23.200 --> 0:05:26.839 pair of super Packs that ran ads against Vice President 0:05:26.920 --> 0:05:29.880 Kamala Harris. Now the group is airing ads aimed at 0:05:29.920 --> 0:05:35.600 boosting President elect Trump's contentious Defense Secretary nominee Pete Hegseth. 0:05:35.640 --> 0:05:38.520 And elsewhere on Capitol hillcare in the House Ethics Committee 0:05:38.520 --> 0:05:42.000 has released its investigation into former Congressman and former Attorney 0:05:42.080 --> 0:05:45.919 General designate Matt Gates. The thirty seven page report accused 0:05:45.920 --> 0:05:49.200 as the Florida Republican of regularly paying for sex with women, 0:05:49.279 --> 0:05:52.240 including a seventeen year old girl he didn't know was underage, 0:05:52.400 --> 0:05:55.359 as well as buying and taking illegal drugs while he 0:05:55.440 --> 0:06:00.000 represented Florida's western Panhandle. Here's Bloomberg Congressional reporter Billy Howell 0:06:00.480 --> 0:06:01.960 on where this case goes from here. 0:06:02.279 --> 0:06:06.960 There still remain no charges criminally or even civil at 0:06:06.960 --> 0:06:10.800 this point against him, So there's really no criminal reason 0:06:10.839 --> 0:06:13.080 why he can't run for public office if he were 0:06:13.080 --> 0:06:16.039 to return to the US House, and there's no indication 0:06:16.400 --> 0:06:18.480 he's thinking of that. There has been rumors he might 0:06:18.560 --> 0:06:22.839 run for governor of Florida or some other posts. Right now, 0:06:22.960 --> 0:06:25.840 is no reason why he can't do that. Other than 0:06:25.880 --> 0:06:29.800 the voters could read this report and of course respond 0:06:30.040 --> 0:06:31.039 in a negative way. 0:06:30.880 --> 0:06:34.200 Obviously, Bloomberg Congressional reporter Billy House says Matt Gates is 0:06:34.240 --> 0:06:37.760 repeatedly denied wrongdoing. He says the Ethics Committee relying on 0:06:37.839 --> 0:06:41.440 witnesses that federal prosecutors deemed not credible. 0:06:44.600 --> 0:06:45.080 In his time. 0:06:45.160 --> 0:06:47.239 Now for a look at some of their stories making 0:06:47.279 --> 0:06:49.320 news in New York and around the world, and for 0:06:49.360 --> 0:06:52.520 that we're joined by Bloomberg. So Michael Michael, good morning. 0:06:52.400 --> 0:06:56.080 Good morning. Karen. Luigi Mangioni appeared in a New York 0:06:56.120 --> 0:06:58.800 state courtroom to enter a plea of not guilty to 0:06:59.080 --> 0:07:02.600 state murder and terror charges in the fatal shooting of 0:07:02.760 --> 0:07:06.520 United Healthcare CEO Brian Thompson. The twenty six year old 0:07:06.560 --> 0:07:08.600 is charged with the love and counts in the indictment, 0:07:08.920 --> 0:07:12.680 including first degree murder in further rents of terrorism. Man 0:07:12.760 --> 0:07:17.720 Gione's attorney, Karen Friedman Agnafilio, says she is concerned on 0:07:17.840 --> 0:07:20.000 her client's right to a fair triumph. 0:07:20.400 --> 0:07:23.960 Like every other defendant, he's entitled to a presumption of innocence, 0:07:24.200 --> 0:07:27.080 but unfortunately, the way this has been handled so far, 0:07:27.880 --> 0:07:29.680 his rights are being violated. 0:07:30.280 --> 0:07:32.880 More with Bloomberg's Missy at Gofopolo. 0:07:33.480 --> 0:07:37.640 We all saw the images that circulated around social media 0:07:37.720 --> 0:07:41.040 and news outlets last week when it came to Manjone's 0:07:41.120 --> 0:07:44.160 arrival in New York City. You know, he was handcuffed, 0:07:44.200 --> 0:07:47.960 wearing orange jumped suit, surrounded by heavily armed police and 0:07:47.960 --> 0:07:50.640 even New York City Mayor Eric Adams walking behind him. 0:07:50.840 --> 0:07:53.840 That was the image that his lawyer said was a 0:07:53.880 --> 0:07:56.320 reason to believe that, you know, he may not be 0:07:56.640 --> 0:07:58.400 presumed innocence in this. 0:07:58.440 --> 0:08:03.440 Case, Bloomberg's Gopulo, we are learning more about the suspect 0:08:03.560 --> 0:08:05.880 and the grizzly death of a woman who New York 0:08:05.920 --> 0:08:10.200 City police say was intentionally set on fire while sleeping 0:08:10.280 --> 0:08:13.560 in a subway train. Officials said. Thirty three year old 0:08:13.520 --> 0:08:17.520 Sebastian Supeta has been charged with first degree murder and arson. 0:08:17.920 --> 0:08:22.640 According to Immigration and Customs Enforcement, Cupeeda is an undocumented 0:08:22.720 --> 0:08:26.920 immigrant from Guatemala. An ICE officials says Zepeta was detained 0:08:26.920 --> 0:08:30.200 and deported shortly after crossing the border in Arizona in 0:08:30.200 --> 0:08:34.280 twenty eighteen, but later sneaked back into the US. A 0:08:34.320 --> 0:08:38.120 major storm is pounded California Central Coast, bringing flooding and 0:08:38.240 --> 0:08:41.000 I surf that was blamed for fatally trapping a man 0:08:41.080 --> 0:08:45.000 beneath the debris on a beach and later partially collapsing 0:08:45.000 --> 0:08:48.280 a peer, tossing three people into the ocean. The storm 0:08:48.360 --> 0:08:52.400 brought hurricane force winds and waves up to sixty feet 0:08:52.559 --> 0:08:56.160 as it gained strength from California to the Pacific Northwest. 0:08:56.440 --> 0:09:00.400 Officials are urging the public to avoid the area. Cruise 0:09:00.480 --> 0:09:03.360 Mayor Fred Keeley says he thears there could be more damage. 0:09:03.400 --> 0:09:06.560 I'm very concerned that we will lose additional portions of 0:09:06.600 --> 0:09:07.839 our municipal. 0:09:07.320 --> 0:09:11.480 War Some California city has ordered beachfront homes and hotels 0:09:11.480 --> 0:09:16.920 to evacuate. President Emanuel mccraul appointed Eric lombard as France's 0:09:17.120 --> 0:09:22.120 finance minister. Lombard is has the task of repairing the 0:09:22.120 --> 0:09:26.280 country's finances. Finally, American astronauts on the International Space Station 0:09:26.320 --> 0:09:29.719 of sharing holiday wishes. Sody Williams, one of the astronauts 0:09:29.800 --> 0:09:32.240 who have been stuck in orbit since June due to 0:09:32.280 --> 0:09:34.679 problems with Boeing Starlink spacecraft. 0:09:34.920 --> 0:09:36.800 It's a great time of Europe here we get to 0:09:36.840 --> 0:09:39.760 spend it with all of our family up on the 0:09:39.960 --> 0:09:42.800 International space station. There's seven of us up here, and 0:09:42.880 --> 0:09:44.920 so we're going to get to enjoy company together. 0:09:45.000 --> 0:09:47.200 Global news twenty four hours a day and whenever you 0:09:47.200 --> 0:09:49.240 want it with Bloomberg News Now. I'm Michael Barr. This 0:09:49.280 --> 0:09:50.080 is Bloomberg Heron. 0:09:50.360 --> 0:09:57.120 All right, Michael Barr, thank you time now for the 0:09:57.120 --> 0:09:59.960 Bloomberg Sports Update, brought to you by Trying State Out 0:10:00.040 --> 0:10:02.280 eight years Dan Schwartzman, Dan, good morning. 0:10:02.160 --> 0:10:04.559 Good morning, Karen. The Packers clinching a playoff birth with 0:10:04.679 --> 0:10:06.839 a dominating win over the Saints. 0:10:07.640 --> 0:10:16.320 Wilson again, he is no signaling yet. Touchdown he got here. 0:10:17.679 --> 0:10:18.800 That's courtesy of ABC. 0:10:19.000 --> 0:10:21.640 Packers knockoff New Orleans thirty four to nothing again, green 0:10:21.679 --> 0:10:24.840 Bay Packers recording the first shutout of the NFL season. 0:10:24.880 --> 0:10:27.520 Green Bay holding Saints Rocky quarterback Spencer Rattler at just 0:10:27.600 --> 0:10:31.120 one hundred fifty three yards passing with an interception, running 0:10:31.120 --> 0:10:33.800 back Josh Josh Jacobs gaining one hundred and seven yards 0:10:33.800 --> 0:10:36.600 from scrimmage while scoring a touchdown for this sixth straight game. 0:10:36.920 --> 0:10:39.040 Green Bay improves to eleven and four in the season. 0:10:39.080 --> 0:10:42.000 The Saints fall to five and ten. NBA action, the 0:10:42.080 --> 0:10:44.320 Knicks win their fourth straight out lasting the Raptors one 0:10:44.400 --> 0:10:46.960 thirty nine to one twenty five, Karl Anthony, Townsend, O 0:10:47.040 --> 0:10:50.480 g n Andobi combining for sixty two points. Elsewhere, Nets 0:10:50.480 --> 0:10:53.360 lose at the Heat one ten to ninety five. Celtics 0:10:53.400 --> 0:10:55.440 fall on the road at the Magic oneh eight to 0:10:55.480 --> 0:10:57.800 one oh four. Wizards get blown out at the Thunder 0:10:58.040 --> 0:11:00.280 one twenty three to one oh five, Shay Gill August 0:11:00.280 --> 0:11:03.920 Alexander scoring forty one points for OKC. There were fireworks 0:11:03.920 --> 0:11:07.040 in Philadelphia. Sixers star big man Joelle and beat dejected 0:11:07.080 --> 0:11:09.640 in the first half after picking up two quick technical 0:11:09.679 --> 0:11:12.880 fouls after arguing a charging call with the referee. Embiid 0:11:13.040 --> 0:11:14.880 was just playing his eighth game of the season and 0:11:15.080 --> 0:11:18.920 just his second since coming back from a sinus fracture. Sixers, though, 0:11:18.920 --> 0:11:21.120 beating the Spurs one to eleven to one oh six, 0:11:21.480 --> 0:11:24.199 and the NHL Rangers continue to struggle. They lose their 0:11:24.240 --> 0:11:27.520 thirteenth game out of seventeen, five nothing to the Devils, 0:11:27.640 --> 0:11:30.920 as Rangers could only muster twelve shots on goal. Elsewhere, 0:11:30.920 --> 0:11:33.079 the Islanders get blown out at home seven to one 0:11:33.120 --> 0:11:35.720 of the Sabers, who snapped a thirteen game losing streak, 0:11:35.920 --> 0:11:38.360 while the Bruins knock off the Capitals four to one. 0:11:38.559 --> 0:11:43.840 That that's your Bloomberg Sports Update. I'm Dan Schwartzman, Coast. 0:11:43.559 --> 0:11:47.520 To Coast on Bloomberg Radio, nationwide on Sirius XM, and 0:11:47.640 --> 0:11:50.920 around the world on Bloomberg dot Com and the Bloomberg 0:11:50.960 --> 0:11:54.520 Business app. This is Bloomberg Daybreak. Good morning. 0:11:54.559 --> 0:11:57.720 I'm Nathan Hager. President Biden has a big decision to 0:11:57.800 --> 0:12:00.280 make in his final weeks in office. He will have 0:12:00.320 --> 0:12:02.960 to decide whether to follow through on his promise to 0:12:03.000 --> 0:12:06.920 block Japan's Nippon Steel from taking over US steal. The 0:12:07.160 --> 0:12:10.480 secretive National Security panel that's been reviewing this deal for 0:12:10.760 --> 0:12:14.520 just about a year now has deadlocked on its recommendation. 0:12:14.760 --> 0:12:15.120 For more. 0:12:15.160 --> 0:12:18.720 We're joined by Bloomberg News Senior editor Bill Ferries. Bill, 0:12:18.800 --> 0:12:21.360 good morning. We've talked about this before that President Biden 0:12:21.360 --> 0:12:24.360 has said he wants to keep US Steel US owned, 0:12:24.440 --> 0:12:28.200 But have the circumstances changed since this steals come under 0:12:28.240 --> 0:12:29.000 Sephius review. 0:12:30.320 --> 0:12:33.360 Well, good morning, Nathan. Yeah, it's been a basically a 0:12:33.480 --> 0:12:37.760 year long saga that for quite a while looked in doubt, 0:12:37.840 --> 0:12:40.640 mostly because or at least in large part because it 0:12:40.720 --> 0:12:42.679 was still wrapped up. It was getting wrapped up in 0:12:42.720 --> 0:12:47.280 the presidential campaign cycle. US Steel kind of an iconic 0:12:47.320 --> 0:12:51.640 American name and brand. So we're past the election, but really, 0:12:51.679 --> 0:12:56.000 you know, President Biden has long suggested that he would 0:12:56.320 --> 0:12:58.680 he would oppose this. He wants to keep the company 0:12:58.679 --> 0:13:03.160 in US hands. Donald Trump has effectively said the same thing. 0:13:03.320 --> 0:13:07.360 So it's it's looked pretty grim for Nippon Steele to 0:13:07.480 --> 0:13:11.400 conclude this takeover. But you know, I guess, I guess 0:13:11.480 --> 0:13:14.560 there's still we have fifteen days for President Biden to 0:13:14.600 --> 0:13:18.680 make a decision the companies. Both the companies have vowed 0:13:18.720 --> 0:13:21.640 to fight fight a rejection of this deal. It's a 0:13:21.640 --> 0:13:26.079 fourteen billion dollar deal, and so it's you know, I 0:13:26.520 --> 0:13:28.320 don't think we're at the point where we can say 0:13:28.320 --> 0:13:31.719 it's over yet, because there's still there's still options available 0:13:32.080 --> 0:13:35.120 if President Biden decides against supporting this steal. 0:13:35.760 --> 0:13:38.760 And in the meantime, bill Nippon Steele has made a 0:13:38.760 --> 0:13:41.160 lot of gestures to try to assuage any of these 0:13:41.280 --> 0:13:44.720 national security concerns that President Biden says he has about 0:13:45.320 --> 0:13:48.600 a Japanese company taking over at US Steel. Could that 0:13:48.720 --> 0:13:51.160 be enough to sort of sway him here? 0:13:53.040 --> 0:13:55.880 You know, the company has tried to They've tried to 0:13:55.920 --> 0:14:00.359 work with the local union. Even when the United Steel werekers. 0:14:00.480 --> 0:14:03.319 The Broad Umbrella Union has been opposed to the deal. 0:14:03.720 --> 0:14:06.560 They have worked with local politicians trying to h to 0:14:06.640 --> 0:14:10.240 win some some support. They've promised, uh, you know, they've 0:14:10.240 --> 0:14:13.080 promised a lot of things to the workers there. Nippon 0:14:13.120 --> 0:14:17.360 Steele even hired former Secretary of State Mike Pompeo, who 0:14:17.440 --> 0:14:20.840 obviously you know, worked for Donald Trump closely to help 0:14:21.200 --> 0:14:24.800 help persuade them or help advise them on this deal. So, uh, 0:14:24.880 --> 0:14:28.360 they've done a lot. They refiled their proposal. I think 0:14:28.400 --> 0:14:31.920 back in September, whether that's enough, I you know, I 0:14:32.320 --> 0:14:35.080 don't know. I mean, President Biden is obviously passed any 0:14:35.080 --> 0:14:38.320 election worries, but there are going to be a lot 0:14:38.360 --> 0:14:42.920 of Democrats opposed to this deal. I think it's it's 0:14:42.960 --> 0:14:44.680 it's hard to say. I mean, I think the fact 0:14:44.720 --> 0:14:47.640 that Siphius, this committee that was looking at the national 0:14:47.720 --> 0:14:53.120 security implications kind of deadlock tells you that it's it's 0:14:53.400 --> 0:14:55.400 kind of a tin coin toss at this point. 0:14:55.800 --> 0:14:59.920 Interesting now, if President Biden does go ahead and block 0:15:00.160 --> 0:15:03.200 this and Nippon Steele challenges this in court, does it 0:15:03.240 --> 0:15:05.920 become an issue for president like Donald Trump, and could 0:15:05.960 --> 0:15:08.120 he handle it differently? Got about thirty seconds left. 0:15:09.040 --> 0:15:10.120 Yeah, I think for sure. 0:15:10.160 --> 0:15:13.400 I mean, listen, President like Trump has always been someone 0:15:13.400 --> 0:15:16.080 who says he likes to make a deal. So is 0:15:16.120 --> 0:15:19.520 there something that Japan could do as a government and 0:15:19.720 --> 0:15:23.280 that Nippon Steele could do to maybe make this something 0:15:23.280 --> 0:15:26.000 that's more appealing to Donald Trump. I would definitely not 0:15:26.080 --> 0:15:29.400 rule something like that out after he takes office. 0:15:29.720 --> 0:15:33.160 This is Bloomberg Daybreak, your morning podcast on the stories 0:15:33.200 --> 0:15:36.240 making news from Wall Street to Washington and beyond. 0:15:36.520 --> 0:15:38.920 Look for us on your podcast feed by six am 0:15:38.920 --> 0:15:42.320 Eastern each morning, on Apple, Spotify, or manywhere else you listen. 0:15:42.560 --> 0:15:45.400 You can also listen live each morning starting at five 0:15:45.440 --> 0:15:48.160 am Wall Street time on Bloomberg eleven three to zero 0:15:48.160 --> 0:15:51.040 in New York, Bloomberg in ninety nine to one in Washington, 0:15:51.120 --> 0:15:55.080 Bloomberg ninety two nine in Boston, and nationwide on serious 0:15:55.280 --> 0:15:56.840 XM Channel one twenty one. 0:15:57.240 --> 0:15:57.520 Plus. 0:15:57.560 --> 0:16:00.320 Listen coast to coast on the Bloomberg Business app with 0:16:00.360 --> 0:16:02.800 Apple CarPlay and Android Atto interfaces. 0:16:03.040 --> 0:16:06.040 And don't forget to subscribe to Bloomberg News Now. It's 0:16:06.080 --> 0:16:08.800 the latest news whenever you want it in five minutes 0:16:08.880 --> 0:16:12.000 or less. Search Bloomberg News Now on your favorite podcast 0:16:12.040 --> 0:16:16.200 platform to stay informed all day long. I'm Karen Moscow. 0:16:16.000 --> 0:16:18.520 And I'm Nathan Hager. Join us again tomorrow morning for 0:16:18.600 --> 0:16:20.520 all the news you need to start your day right 0:16:20.520 --> 0:16:22.000 here on Bloomberg DA Break