Trump Urges House Vote for Epstein Files Release; Bessent on $2K Tariff Dividend Checks

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 with an apparent reversal from President Trump
when it comes to the Jeffrey Epstein files. The President
posted on social media last night that House Republicans should
vote to require the Justice Department to release its documents
on the late sex offender. In the President's words, quote,
we have nothing to hide and it's time to move
on and quote. It's a shift from a position that
had President Trump calling conservative Congresswoman Marjorie Taylor Green a
trader and a disgrace to the Republican Party.
The most hurtful thing he said, which is absolutely untrue,
is he called me a trader. And that is so
extremely wrong. And those are the types of words us
that can radicalize people against me and put my life
in danger.
Republican Congressman Marjorie Taylor Green appeared on CNN's State of
the Union. House Speaker Mike Johnson had resisted bringing the
Epstein files up for a vote until a petition forced
his hand. Now he says it shouldn't be an issue
for the President.
He's not worried about it.
I talked to him all the time. He has nothing
to do with this.
He's frustrated that they're turning it into a political issue.
And it's not surprising because the Democrats have nothing else
to talk about.
How Speaker Mike Johnson was a guest on Fox News Sunday,
heard every Sunday on Bloomberg Radio. The House is set
to vote on the Epstein Files bill tomorrow.
Well, Nathan, it could be back to normal today at
the airport. After more than a week of flight restrictions
tied to the government shutdown. The Transportation Department and Federal
Aviation Administration are allowing airlines to resume normal operations at
forty major airports. As of sixth this morning, Wall Street
time flight cuts had been capped at three percent through
the weekend. They were supposed to rise as high as
ten percent by last Friday, before President Trump signed the
bill to end the shutdown. FA Administrator Brian Bedford and
Transportation Secretary Sean Duffy says staffing levels at air traffic
control have continued to snap back since the government reopened.
Well Karon, Treasury Secretary Scott Besson says President Trump's proposal
to send two thousand dollars dividend payments from tariffs to
US citizens would require congressional approval. Bessett was asked by
Fox News Sunday Morning Futures anchor Maria Bartiromo whether the
President would be sending the payments.
We will see. We need legislation for that.
And again, President Trump is all about solutions, Maria, and
everything is on the table.
And again that was Treasury Secretary Scott Besson on Fox's
Sunday Morning Futures. President Trump has touted billions of dollars
raised in US tariff revenue this year, and he's talked
about the checks as public frustration mounts over the cost
of living.
Let's turn to the Marcus now, Nathan were futures are hire.
As we kick off the new trading week, investors are
awaiting some key earnings reports in the release have a
long delayed economic data. This morning, Morgan Stanley raised its
twelve month target for the S and P five hundred.
Strategist Mike Wilson says, we're in the midst of a
bull market. He's raising his target to seventy eight hundred,
and that's about sixteen percent above current levels.
Care in the big market. Event of the week comes Wednesday,
when in Vidia's highly anticipated earnings report hits. We get
a preview from Bloomberg's John Tucker.
A Video's report will be closely scrutinized by investors who
are increasingly uneasy over stratospheric AI valuations. Now, the chip
makers widely expected to deliver another earning speed. Bloomberg Intelligences
demand from operators of massive data centers well more than
offset problems in videos having in China, But the four
and a half trillion dollar company faces questions about SoftBank's
recent exit as a shareholder. It's a move that's further
fuel concerns that circular investments across the AI industry are
creating a bubble. I'm John Tucker, Bloomberg Radio.
All right, John, thank you. It's been a vula until
month for bitcoin investors. Hundreds of billions of dollars have
been a race since October. Begin more with a Bloomberg
Markets reporter Valerie title.
Bitcoin's reversal from all time highs on October six is
really following the broader weakness in tech stocks in the
equity market. We know the equity market has not had
a good November of Frankly, it's down some five percent
from all time highs Lisa Nastak is from late October.
But when it comes to bitcoin, you know, obviously the
move has been a lot more pronounced. Not only has
it wiped out year to date gains, it's also down
twenty five percent since it's October a six peak. So
in just a month and a half it's gone from
one hundred and twenty five thousand to now trading around
the ninety five one thousand level. It's wiped out six
hundred billion in market cap in that time.
And that's Bloomberg's Valerie Titel Looking at bitcoin this morning,
it's higher, up two point three percent at ninety five thousand,
six hundred dollars.
And this morning, Karen Investors have new insights into the
holdings of the world's biggest stock picker with the latest
thirteen F disclosures to the Securities in Exchange Commission. We
get more from Bloomberg Financial reporter Charlie Wells.
When you look at some of the holdings, some of
the increases in those holdings as far as market value,
you've got some familiar names kind of coming up as
far as growing over that third quarter. So Nvidia up
some eleven billion dollars. Within the holdings of hedge funds,
you've got Alphabet and Apple as well. When you think
about losers, there's something interesting that's going on here too
as well, because it's also tech names. So one of
the biggest decliners as far as market value within these
hedge funds holdings was Core Weave.
And Bloomberg's Charlie Wells notes Core Weave shares are down
fifty five percent from their all time high set back
in June.
Well A thirteen f filing is giving you a big
boost to Alphabet shares this morning, Nathan, they're at more
than five percent regulatory filing show. We're in Buffett's Berkshire.
Hathaway acquired seventeen point nine million shares in the Google
parent during the third quarter.
And Boeing's just gotten a big win. Karen Emirates is
another major order for the playmaker's flagships seven seven seven
X airliner. The deal wich Emirates, valued at thirty eight
billion dollars, was announced on the first day of the
Dubai Air Show. The purchase Cement's Emirates status as the
biggest operator of Boeing's largest aircraft.
Time now for a look at some of the other
stories making news in New York and around the world,
and for that we're joined by Bloomberg's and Michael Barr. Michael,
Good Morning, Good.
Morning, Karen. President Donald Trump says the US may be
having some discussions with Venezuelan President Nicholas Maduro. It's a
potential diplomatic avenue as the US further builds up its
military presence near the South American country with the arrival
of its most advanced aircraft carrier. The President spoke while
leaving Palm Beach last night.
We may be discussing. We may be having some discussions.
With Maduro, and we'll see how that turns out.
They would like, they would like to talk.
The development comes as the Trump administration has carried out
a series of military strikes against vessels suspected of transporting drugs. Meanwhile,
the US plans to designate a Venezuelan drug cartel it
alleges is led by Maduro, as a foreign terrorist organization.
New York City mayor elects Zoron Mamdani says that he
plans to meet with current Mayor Eric Adams. Mamdani spoke
to ABC seven as he prepares to assume office January first.
We will be sitting down when he does, and I
had a conversation with him, and what I have to
say is despite the many political disagreements that we have,
I am appreciative of the fact that the transition itself
is one that is moving forward.
Ma'm Donnie says part of the ongoing transition efforts include
their hiring process. His office has received more than fifty
thousand applications from all five boroughs since the portal was
opened earlier this month. Meanwhile, President Trump plans to meet
with Mamdani and said they'll work something out. The New
York Mayor's office says Jets cornerback Chris Boyd remains in
critical but stable condition after a shooting in Midtown Manhattan.
The New York Police Department said Boyd was shot early Sunday.
There have been no arrests. Boyd hasn't played this season,
his first with the Jets, after going on the injured
reserve list in August. Global News twenty four hours a
day and whenever you want it with Bloomberg News.
Now.
I'm Michael Barm and this is Bloomberg Karen.
Thanks Michael. Time now for our Bloomberg Sports update, and
for that we bring in John Stashauer.
Thanks here. And they played for first place in the
NFC West and the Rams intercepted Sam Donald four times,
beat the Seahawks twenty one to nineteen. Las won five
in a row. Also a big NFC game last night
in Philadelphia, low scoring affair. The Eagles beat the Lions
sixteen to nine. Le Bronco goes on a last playfield
goal beat the Chiefs twenty two to nineteen. Denver's won
eight in a row. Kansas City is just five and five.
Easy win for the Steelers, but an injury to Aaron
Rodgers to his left wrist. Initial concern is there's a
slight fracture. 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 Serious
Exam and around the world on Bloomberg dot Com and
the Bloomberg Business Appum. This is Bloomberg Daybreak.
Good morning. I'm Nathan Hager. He's called it a democratic
hoax and a smear campaign. Now, in what appears to
be a major reversal, President Trump says House Republicans should
vote to require the Justice Department to release its files
on Jeffrey Epstein. To vote, Republican Congressman Thomas Massey's been
pushing for months.
I think we could have a deluge of Republicans.
There could be one hundred or more. I'm hoping to
get a veto proof majority on this legislation when it
comes up for a vote.
Republican Thomas Massey appeared on ABC's This Week Heard Sundays
on Bloomberg Radio before the President's social media post on
the issue last night. And we're joined this morning by
Bloomberg's Breaking News editor Alexander Pearson. Talk about Breaking news.
Alex what's behind this apparent reversal from President Trump on
the Epstein files?
Good morning, Good morning, Nathan. Yeah, that's right. It's quite
a surprising turnaround for President Trump, who, since taking office
in January, has resisted the release of these divan of
Justice files. He has been coming under increased pressure in
the last week. Last week, the House voted for a
petition to force this vote that we'll see this week
on releasing the files, and that came with a number
of Republican lawmakers joining Democrats to vote in favor of
that petition, including Representative Massey, but also Representative Majority Taylor Green.
Trump's initial reaction was one of well scorn. He publicly
denounced Representative Taylor Green, but then this morning, late last night,
he then decided to actually support the measure, and his
case is that he has nothing to hide and that
they can be released as a result in good conscience.
Now, this is something that the President has said in
the past, even in the social media post last night
he said that he has nothing to hide before. But
could this be an acknowledgment here that there were cracks
forming between the president and his base and that he
could be trying to shore them up here?
I think yeah, very much.
So.
There's always been this tension on the Epstein story in
terms of Trump's resistance to releasing those those files and
many of his circled MAGA supporters, And it does appear that,
you know, this might be an attempt by the administration
to control this narrative, not to create too much of
a division with without part of the base. It also
comes after Trump ordered the Dupontment Justice to investigate Epstein's
ties to other prominent mainly Democratic officials. So this does
seem to be part of a considered effort to just
try and control the narrative here and not annoy too
many of his people in his own space.
Yeah, I did want to ask you about that call
last week and apparently heeded by the Justice Department to
investigate Jeffrey Epstein's links to Democrats. Does that continue that investigation?
Yeah, as far as we're aware at the moment, yes,
that does continue. The Department of Justice has opened that
probe and that's primarily I mean some of the individuals
who are being targeted there are former President Bill Clinton,
also former Treasury Secretary Larry Summers. And that will continue
as far as we're aware, while this process goes on
in the House to on this motion to release the
files that the Department of Justice holds.
And that motion is, as we say, said, to go
up for a vote in the House tomorrow. How are
we expecting that vote to go. We just heard from
Congressman Massey saying that he's hoping for a veto proof majority.
Does it look like he could get it?
That's unclear right now. I mean, in terms of just
passing the motion, it just requires a simple majority that
would then send it to the Senate, and they would
require at least sixty votes to ensure it could pass.
So in terms of getting a veto proof majority, that
would require more. And at this stage it's not really
clear how many Republicans you know, are willing to shift. Previously,
Speaker Johnson was resisting attempts to have this vote in
line with Trump's demands. But now that Trump's actually flipped
on this issue, there could be enough support for a
veto proof majority. As Representative massicles, Yeah, I.
Was going to say in our last thirty seconds, could
there be more pressure on Senate Republicans to go ahead
and vote in favor of this now that the President
has apparently made that reversal.
Yeah, very well could be. So we could actually see
this pass through to the point where then it lands
on the Trump's desk and he signs it. Given his
now vocal support for releasing those files, so it very
much well could now run through the various stages of
Congress and then to Trump's desk unimpeded.
This is Bloomberg Daybreak, your morning podcast on the stories
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