Trump Picks Rubio as Secretary of State; Bitcoin Nears $90,000

Bloomberg Audio, Studios, Podcasts, Radio News. Good morning, I'm Nathan 0:00:10.840 --> 0:00:13.800 Hager and I'm Karen Moscow. Here are the stories we're 0:00:13.840 --> 0:00:14.640 following today. 0:00:14.840 --> 0:00:18.880 Karen, we begin with politics. President elect Donald Trump continues 0:00:18.960 --> 0:00:22.599 moving quickly to fill in key positions for his second term. 0:00:22.760 --> 0:00:26.040 Bloomberg News has learned Trump will appoint Marco Rubio as 0:00:26.120 --> 0:00:30.120 Secretary of State and Florida Representative Mike Waltz as National 0:00:30.160 --> 0:00:34.360 Security Advisor. Both men have track records of harshly criticizing China. 0:00:34.640 --> 0:00:37.120 We get more from Bloomberg Senior editor Bill Ferries. 0:00:37.479 --> 0:00:42.599 Mike Waltz, He's a Congressman from Florida, former Green Beret 0:00:42.720 --> 0:00:47.120 and veteran of the Afghan War. Definitely a hawk on 0:00:47.240 --> 0:00:51.400 things like China and US military policy and places like 0:00:51.440 --> 0:00:54.520 the Middle East. Then you have Marco Rubio is well 0:00:54.560 --> 0:00:57.560 known on foreign and foreign policy circles for his focus 0:00:57.600 --> 0:01:01.240 on Latin America places like Venezuela and q partly because 0:01:01.240 --> 0:01:04.120 he's from Miami, but he is very much a hawk 0:01:04.200 --> 0:01:05.399 on China as well. 0:01:06.000 --> 0:01:09.440 Bloomberg's Bill Ferry says Trump's picks give some indication of 0:01:09.480 --> 0:01:12.440 the direction his next term will take. After the Republican 0:01:12.520 --> 0:01:15.919 campaigned on threats to impose a sixty percent blanket tariff 0:01:16.000 --> 0:01:19.679 on Chinese products. Stocks in China dropped one percent. Hong 0:01:19.760 --> 0:01:23.520 Kong's Hang Saying slipped almost three percent following that. News 0:01:23.560 --> 0:01:24.520 of Trump's appointments. 0:01:25.040 --> 0:01:28.080 Well Nathan, the president elect is also tapping a loyalist 0:01:28.120 --> 0:01:30.720 to fill out his team focused on securing the border 0:01:30.760 --> 0:01:34.319 and carrying out a mass deportation. CNN is reporting Trump 0:01:34.319 --> 0:01:37.560 will name South Dakota Governor Christy nom to lead the 0:01:37.600 --> 0:01:41.520 Department of Homeland Security. Nom will join Trump's borders are 0:01:41.640 --> 0:01:45.120 Tom Homan, an immigration hardliner, Stephen Miller when he takes 0:01:45.120 --> 0:01:48.000 office in January. Unlike those positions, no one would needs 0:01:48.000 --> 0:01:50.560 Senate confirmation to take over Homeland Security. 0:01:50.800 --> 0:01:52.760 Well, one person who won't be joining Trump for a 0:01:52.760 --> 0:01:55.480 second term, Karen, is one of his sons. Bloomberg News 0:01:55.520 --> 0:01:59.240 has learned Donald Trump Junior is joining seventeen eighty nine Capital. 0:01:59.280 --> 0:02:02.760 That's a venture capital firm that invests in conservative leaning companies. 0:02:03.000 --> 0:02:05.040 The younger Trump has played an active role in his 0:02:05.040 --> 0:02:08.400 father's latest presidential campaign and White House transition. 0:02:08.840 --> 0:02:11.880 Well Nathan Trump has picked several loyalists from Capitol Hill 0:02:11.919 --> 0:02:14.320 to fill out his Cabinet that threatens to cut into 0:02:14.320 --> 0:02:17.760 Republican's razor thin majority in the House, but the GOP 0:02:18.200 --> 0:02:20.560 is still on track to hold on to Congress once 0:02:20.600 --> 0:02:23.279 all the votes are counted. As of now, the Associated 0:02:23.320 --> 0:02:26.480 Press is called two hundred fourteen House races for Republicans 0:02:26.480 --> 0:02:29.080 and two hundred five for Democrats. It takes two hundred 0:02:29.160 --> 0:02:33.079 eighteen to win. Bloomberg's Derek Wallbank is watching the races closely. 0:02:33.440 --> 0:02:35.800 On the House side, you are looking at a payper 0:02:35.840 --> 0:02:39.960 thin majority. No matter how much it shapes up. It 0:02:40.080 --> 0:02:42.400 looks at this point like Republicans are going to hold 0:02:42.440 --> 0:02:45.320 the House. My guess right now, if I were counting 0:02:45.320 --> 0:02:47.480 it up, would be somewhere around two hundred and twenty 0:02:47.560 --> 0:02:50.800 two seats. The majority is at two one eight, so 0:02:50.919 --> 0:02:53.840 that's not too much of a distance. 0:02:54.160 --> 0:02:57.360 And Bloomberg's Derek Wallbank a two hundred and fifteen seat, 0:02:57.680 --> 0:03:02.040 is close to joining the GOP. In Colorado, freshman Democrat 0:03:02.120 --> 0:03:06.359 Yadira Caraveo conceded that race on Sunday, and Republicans will 0:03:06.360 --> 0:03:08.959 win a two hundred and sixteenth seat. In Washington, where 0:03:09.000 --> 0:03:12.280 GOP candidates are running against each other, that would leave 0:03:12.360 --> 0:03:14.320 fourteen races still undecided. 0:03:14.480 --> 0:03:16.400 Meantime, caring the last race that was left to be 0:03:16.440 --> 0:03:20.080 called in the Senate is complete. Democrat Reuben Diego defeated 0:03:20.120 --> 0:03:23.120 Republican Kerrie Lake for an open seat in Arizona. That 0:03:23.160 --> 0:03:26.680 puts the final Senate count at fifty three Republicans and 0:03:26.840 --> 0:03:28.320 forty seven Democrats. 0:03:28.680 --> 0:03:32.320 Well, Nathan, Bitcoin's record breaking rally since Trump was re 0:03:32.400 --> 0:03:36.200 elected is in full swing. The digital asset has surged 0:03:36.240 --> 0:03:40.800 past eighty nine thousand dollars. Mike mcgloone covers commodities for 0:03:40.840 --> 0:03:42.000 Bloomberg Intelligence. 0:03:42.360 --> 0:03:45.480 The world changed last Tuesday, and it's almost a perfect 0:03:45.520 --> 0:03:48.760 storm for bitcoin. So think of all the anti bitcoin 0:03:48.880 --> 0:03:53.480 regulation and pushback from the previous administration and Gary Gensler 0:03:53.800 --> 0:03:55.040 that's completely flipped. 0:03:55.200 --> 0:03:58.440 Bloomberg Intelligence is Mike McLoone says Bitcoin has jumped about 0:03:58.520 --> 0:04:01.080 thirty two percent since the election a week ago, and 0:04:01.200 --> 0:04:04.840 checking Bitcoin right now, it is at eighty seven four 0:04:04.960 --> 0:04:05.680 hundred dollars. 0:04:05.920 --> 0:04:08.960 And we're continuing to watch Tesla's shares as well, Karen. 0:04:09.000 --> 0:04:11.960 After they climbed nine percent yesterday in the pre market, 0:04:11.960 --> 0:04:14.800 they're now down about five and a half percent. Tesla's 0:04:14.880 --> 0:04:18.200 rallied more than forty percent over the past five sessions, 0:04:18.240 --> 0:04:22.440 and Wedbush analyst Dan Ives has raised his price target 0:04:22.480 --> 0:04:25.880 on the ev maker from three hundred to four hundred dollars. 0:04:26.279 --> 0:04:28.719 The stock is trading near three hundred and thirty dollars 0:04:28.760 --> 0:04:29.200 this morning. 0:04:29.520 --> 0:04:32.800 Well. As for the overall markets here Nathan futures are lower. 0:04:32.880 --> 0:04:35.800 After another winning day on Wall Street, however, we did 0:04:35.839 --> 0:04:39.080 see a stock rotation. Most big tech stocks fell, while 0:04:39.120 --> 0:04:43.640 small caps stock rallied. Matt Michigan, co chief investment strategist 0:04:43.640 --> 0:04:47.080 at John Hancock Investment Management says the markets are pretty 0:04:47.160 --> 0:04:47.960 richly valued. 0:04:48.440 --> 0:04:50.840 The fundamentals are okay, don't get me wrong. I mean, 0:04:50.880 --> 0:04:55.039 earnings are up about five six percent here in Q three, 0:04:56.000 --> 0:04:59.480 and the economy is holding in pretty well. But this 0:05:00.400 --> 0:05:03.120 to us is getting rich, and the pe ratio and 0:05:03.160 --> 0:05:05.200 the S and P five hundred proaching up on twenty 0:05:05.240 --> 0:05:08.200 two times twenty seven times on a trailing basis is 0:05:08.600 --> 0:05:11.520 we're really looking at kind of tech buble type valuations 0:05:11.920 --> 0:05:14.160 and it's going to be hard for fundamentals to come 0:05:14.200 --> 0:05:18.000 in and deliver given how much good news is really 0:05:18.080 --> 0:05:19.239 priced into these markets. 0:05:19.520 --> 0:05:23.000 John Hancock Investment Management's Matt Michigan noted the S and 0:05:23.040 --> 0:05:26.480 P five hundred is up almost four percent since the election. 0:05:26.480 --> 0:05:29.920 And earnings continue this morning. Karen Home Depot is set 0:05:29.960 --> 0:05:32.200 to report before the opening bell. We get a preview 0:05:32.240 --> 0:05:34.760 from Bloomberg's Tom Busby. Same source. 0:05:34.839 --> 0:05:37.400 Sales at Home Depot expected to continue to dip a 0:05:37.440 --> 0:05:40.560 little lower, reflection of the uneven US housing market and 0:05:40.720 --> 0:05:43.480 rising prices. Investors, of course, want to know what the 0:05:43.560 --> 0:05:46.640 change outlook is on housing and whether hurricane related demand 0:05:46.720 --> 0:05:50.120 could boost sales. Also of interest any ships and consumer spending, 0:05:50.440 --> 0:05:54.200 and the impact of potential tariffs from the incoming Trump administration. 0:05:54.720 --> 0:05:57.200 Bloomberg consensus calls for COMP sales to be down three 0:05:57.240 --> 0:06:00.280 point twenty seven percent, revenues forecast to be thirty nine 0:06:00.279 --> 0:06:03.159 point two nine billion, adjusted earnings per share of three 0:06:03.200 --> 0:06:06.960 dollars in sixty six cents. Tom Busby Bloomberg. 0:06:06.480 --> 0:06:09.120 Radio, All right, Tom, thanks well. In Asia shares a 0:06:09.200 --> 0:06:12.360 Nissan searched almost thirteen percent. The rally comes after an 0:06:12.400 --> 0:06:14.880 activist investor took a two and a half percent stake 0:06:14.920 --> 0:06:17.920 in the in battle Japanese automaker. The jump in shares 0:06:17.960 --> 0:06:21.160 comes after Nissan plunged last week after the carmaker announced 0:06:21.160 --> 0:06:24.920 plans to slash jobs and cup production capacity, and lowered 0:06:24.960 --> 0:06:31.920 its operating income forecast by seventy percent. Time now for 0:06:31.920 --> 0:06:33.520 a look at some of the other stories making news 0:06:33.520 --> 0:06:34.960 in New York and around the world, and for that 0:06:35.000 --> 0:06:38.000 we're joined by Bloomberg's John Tucker, John, Good morning. 0:06:37.920 --> 0:06:41.080 And Good morning Karen. Presidentlect Donald Trump has selected former 0:06:41.240 --> 0:06:45.040 New York Congressman Lee Zelden to lead the Environmental Protection 0:06:45.160 --> 0:06:48.160 Agency the story this morning. In this report from Bloomberg's 0:06:48.200 --> 0:06:49.440 Charlie Pellett. 0:06:49.279 --> 0:06:52.080 It places the Long Island Republican in charge of the 0:06:52.120 --> 0:06:56.680 president's plans to boost energy production and curb regulations. In 0:06:56.760 --> 0:06:59.640 a social media post, Zelden said he would work to 0:06:59.720 --> 0:07:04.479 quote restore US energy dominance, revitalize our auto industry, to 0:07:04.520 --> 0:07:07.760 bring back American jobs, and make the US the global 0:07:07.839 --> 0:07:12.240 leader of AI. Zeldin's portfolio is expected to include ending 0:07:12.280 --> 0:07:16.400 the Biden administration's pause on constructing new natural gas export 0:07:16.480 --> 0:07:21.240 terminals and redrawing national monument boundaries to permit mining and 0:07:21.320 --> 0:07:24.640 development in New York. Charlie Pellet Bloomberg Radio. 0:07:25.280 --> 0:07:28.280 President Joe Biden's administration is setting out plans for the 0:07:28.360 --> 0:07:32.560 US to triple nuclear power capacity by twenty fifty under 0:07:32.680 --> 0:07:35.800 roadmapping unveiled today, the US would deploy an additional two 0:07:35.880 --> 0:07:40.080 hundred gigawatts of nuclear energy capacity by mid century through 0:07:40.080 --> 0:07:43.360 the construction of new reactors, plant restarts, and upgrades to 0:07:43.440 --> 0:07:48.200 existing facilities. The strategies one that could win continued support 0:07:48.520 --> 0:07:52.000 under President at Donald Trump, who called for new nuclear 0:07:52.040 --> 0:07:56.120 reactors on the campaign trail. World leaders aren't converging today 0:07:56.120 --> 0:08:00.160 at the UN Annual Climate Conference in Azerbaijan. Though the 0:08:00.160 --> 0:08:03.880 big names and powerful countries are noticeably absent. The top 0:08:04.000 --> 0:08:07.160 leaders of the thirteen largest carbon diox at poluting countries 0:08:07.200 --> 0:08:10.720 will not appear. Still, there is progress, climbent negotiators and 0:08:10.760 --> 0:08:15.160 near creating the first ever global carbon market. And Palestinian 0:08:15.200 --> 0:08:18.240 medical officials say two Israeli strikes in Gaza killed at 0:08:18.320 --> 0:08:22.080 least fourteen people, including two children and a woman. The 0:08:22.160 --> 0:08:24.960 deaths came as eight international aid groups sandy in a 0:08:25.000 --> 0:08:28.360 report today that Israel has failed to meet US demands 0:08:28.560 --> 0:08:32.960 that allow greater humanitarian access to the Gaza's trip Global 0:08:33.000 --> 0:08:34.960 news twenty four hours a day and whatever you wanted 0:08:35.000 --> 0:08:38.080 with Bloomberg News. Now, I'm John Tucker and this is 0:08:38.320 --> 0:08:40.240 Bloomberg Karen and Nathan. 0:08:40.400 --> 0:08:47.959 Great John, thank you time now for the Bloomberg Sports Update, 0:08:48.000 --> 0:08:51.480 brought to you by Tri State OUTI. Here's Dan Schwartzman, Dan, 0:08:51.559 --> 0:08:52.480 good morning. 0:08:52.360 --> 0:08:54.800 Good morning, Karen. Week ten, the NFL season coming to 0:08:54.840 --> 0:08:57.440 an end. The Dolphin snapping is three game losing Street 0:08:57.480 --> 0:09:00.079 Gate twenty three to fifteen win on the road of 0:09:00.160 --> 0:09:02.880 the Los Angeles Rams Protection. 0:09:02.559 --> 0:09:04.800 Breaks down Ton de Baila looking. 0:09:04.640 --> 0:09:07.920 For somewhere why open his model. 0:09:09.320 --> 0:09:11.560 And a big play on third and thirteen. 0:09:12.559 --> 0:09:15.360 That's Cursey of ABC two, a tag of Iloa, completing 0:09:15.400 --> 0:09:17.840 twenty of twenty eight passes or just over two hundred 0:09:17.880 --> 0:09:21.520 yards with the touchdowns and an interceptions. Dolphins improved to 0:09:21.520 --> 0:09:23.840 three and six on the season, Rams falling to four 0:09:23.880 --> 0:09:27.680 and five. Baseball announcing its awards finalists with no surprises. 0:09:27.720 --> 0:09:31.080 Dodger star Shoe Otani and Yankee slugger Aaron Judge leading 0:09:31.080 --> 0:09:34.360 the MVP picks in their respective leagues. Otani joined in 0:09:34.360 --> 0:09:36.800 the National League by Francisco lindor the Mets, and Kettle 0:09:36.840 --> 0:09:38.320 Marte of the Diamondbacks. 0:09:38.559 --> 0:09:39.360 On the American League. 0:09:39.440 --> 0:09:41.800 Yankee star Juan Soto and Bobby Wood Junior of the 0:09:41.880 --> 0:09:45.880 Kansas City Royals are finalists alongside Judge. Chris Sales, Zach 0:09:45.880 --> 0:09:47.840 Wheeler and Pirates rookie Paul Skeins are. 0:09:47.840 --> 0:09:49.400 Nlciung Award finalists. 0:09:49.600 --> 0:09:52.880 On the al Tarek Scuball, Seth Lugo and Emmanuel Class 0:09:53.080 --> 0:09:56.120 are the finalists. In the NBA. The Cleveland Cavaliers are 0:09:56.200 --> 0:09:58.240 just the eighth team to start a season twelve and 0:09:58.360 --> 0:10:00.959 zero after knocking off the Bulls one nineteen to one 0:10:01.000 --> 0:10:03.440 thirteen behind thirty six points from Donovan Mitchell. 0:10:03.720 --> 0:10:04.839 Elsewhere, the Thunder. 0:10:04.679 --> 0:10:07.240 Now nine and two OKC knocking off the Clippers one 0:10:07.280 --> 0:10:09.800 thirty four to one twenty eight. Net's slipping past the 0:10:09.800 --> 0:10:12.320 Pelicans one oh seven to one oh five, while the 0:10:12.320 --> 0:10:15.160 Wizards lose at the Rockets one oh seven to ninety two. 0:10:15.640 --> 0:10:17.880 Nake's in action tonight on the road versus the seventy 0:10:17.920 --> 0:10:20.640 six or Celtics are hosting the Hawks a battle of 0:10:20.679 --> 0:10:23.640 Juggernauts Tonight. In the NHL, Rangers are hosting the fourteen 0:10:23.679 --> 0:10:27.280 and one Winnipeg Jets. Meanwhile, Bruins are at the Blues 0:10:27.520 --> 0:10:31.080 Devils visiting the Panthers, while the Edmonton Oilers are hosting 0:10:31.160 --> 0:10:35.000 the Islanders. That's your Bloomberg Sports update on Dan Schwartzman, 0:10:35.160 --> 0:10:36.199 Karen and Nathan. 0:10:38.400 --> 0:10:42.520 Coast to coast on Bloomberg Radio, nationwide on Sirius XM, 0:10:42.600 --> 0:10:45.520 and around the world on Bloomberg dot Com and the 0:10:45.559 --> 0:10:49.719 Bloomberg Business app. This is Bloomberg Daybreak. Good morning. I'm 0:10:49.760 --> 0:10:51.240 Nathan Hager. President to like. 0:10:51.320 --> 0:10:54.120 Donald Trump may be signaling a much tougher approach to 0:10:54.200 --> 0:10:56.680 foreign policy with his latest cabinet picks. He is set 0:10:56.720 --> 0:11:01.080 to name Florida Senator Marco Rubio Secretary of State. Rubio 0:11:01.240 --> 0:11:04.400 has made no secret about what he considers the greatest 0:11:04.480 --> 0:11:05.559 threat to the US. 0:11:05.960 --> 0:11:10.120 China today is the single most formidable adversary the United 0:11:10.160 --> 0:11:13.839 States has ever faced. Soviet Union was not an industrial power, 0:11:13.960 --> 0:11:15.880 technological power, commercial power. 0:11:16.520 --> 0:11:19.280 I was Senator Rubio speaking on Capitol Hill nearly two 0:11:19.400 --> 0:11:24.040 years ago. This morning. Were joined by Bloomberg's Kevin Whitelaw Kevin, 0:11:24.040 --> 0:11:26.920 Good Morning. China. Hawkishness was a hallmark of the first 0:11:26.920 --> 0:11:30.200 Trump administration. Is it going to be? And then some 0:11:30.600 --> 0:11:33.040 this time around? Good morning, Good morning. 0:11:33.480 --> 0:11:33.680 You know. 0:11:33.720 --> 0:11:36.000 I do think that we all expected that he was 0:11:36.040 --> 0:11:39.640 going to come in to his his second terament, be 0:11:39.800 --> 0:11:43.640 very very aggressive when it comes to China, particularly on trade. 0:11:44.480 --> 0:11:47.080 And I think that that you're starting to see that 0:11:47.080 --> 0:11:50.680 that that's playing out in his picks. Obviously, the Marco 0:11:50.760 --> 0:11:54.600 Rubio pick doesn't seem entirely final, but it is what 0:11:54.640 --> 0:11:57.800 we're expecting at this point, and that that that's a 0:11:57.800 --> 0:12:01.120 hallmark of where Rubio has been. Interestingly, Rubio's actually someone 0:12:01.160 --> 0:12:04.160 who's been a Ukraine supporter as well, so that made 0:12:04.200 --> 0:12:06.520 it a little outside the box from from that perspective, 0:12:06.559 --> 0:12:10.760 given where Trump's Ryderick has been on Ukraine, I think, 0:12:10.800 --> 0:12:13.120 but I think for for for the China side, and 0:12:13.679 --> 0:12:15.079 also now if you look at some of the other 0:12:15.120 --> 0:12:20.040 picks for you know, for the immediate names Israel, I 0:12:20.080 --> 0:12:22.079 think also would have to be feeling very good about 0:12:22.559 --> 0:12:26.360 the voices that they're seeing coming into to shape for 0:12:26.400 --> 0:12:26.920 the cabinet. 0:12:26.960 --> 0:12:30.040 Is a lot of Wall Street listeners are waiting to 0:12:30.120 --> 0:12:34.760 hear what former president now President elect Trump is thinking 0:12:34.840 --> 0:12:39.360 in terms of tariffs. He's campaigned on sixty percent across 0:12:39.400 --> 0:12:44.200 the board tariffs on China. Does Rubio's appointment signal anything there? 0:12:45.559 --> 0:12:47.839 You know, Ultimately, the Secretary of State isn't normally the 0:12:48.640 --> 0:12:52.440 main sort of sort of voice on that, So I 0:12:52.440 --> 0:12:54.600 think I want to wait and sort of see where 0:12:54.920 --> 0:12:57.720 we're going to get sort of Treasury Secretary, US Trade 0:12:57.760 --> 0:12:59.640 Rep some of the you know, commerce some of the 0:12:59.640 --> 0:13:02.720 other sort of more economic things, but obviously Secretary States 0:13:02.720 --> 0:13:03.280 of Voice there. 0:13:04.200 --> 0:13:04.600 Uh. 0:13:04.920 --> 0:13:07.079 Ruby is not someone who's sort of been been hardcore 0:13:07.080 --> 0:13:09.240 on tariffs. But I do think that he'll be part. 0:13:09.360 --> 0:13:12.280 He'll he'll he'll understand that he has to go along 0:13:12.320 --> 0:13:15.800 with what the broad uh the push for for for 0:13:15.880 --> 0:13:18.480 the for for the White House is on this. I 0:13:18.520 --> 0:13:21.440 think when it comes to where we're expecting that should go, 0:13:21.559 --> 0:13:24.600 be a little careful about what any specific numbers are. 0:13:24.720 --> 0:13:27.160 I think the idea here is to take Trump seriously 0:13:27.200 --> 0:13:29.800 and not literally. Don't We'll have to see where he 0:13:29.920 --> 0:13:32.839 ends up, and the starting point may be more of 0:13:32.880 --> 0:13:37.240 a negotiating position than necessarily the end point. So he's 0:13:37.240 --> 0:13:38.960 going to want to make a splash early on. But 0:13:39.040 --> 0:13:41.720 that that as to as to what kind of a 0:13:41.720 --> 0:13:45.240 splash and where that actually ends up landing, We'll have 0:13:45.280 --> 0:13:46.240 to see how it settles out. 0:13:47.040 --> 0:13:50.640 Rubio's appointment is another pick out of Capitol Hill. He's 0:13:50.800 --> 0:13:55.680 named Congresswoman Elist Staphonic as U n Ambassador, Florida Congressman 0:13:55.840 --> 0:14:00.800 Mike Waltz as National Security Advisor. Does that signal confidence 0:14:00.840 --> 0:14:03.560 from the president elect that Republicans are going to hold 0:14:03.600 --> 0:14:05.960 onto their majorities and that he's going to win quick 0:14:06.000 --> 0:14:07.520 confirmation for some of these picks. 0:14:08.120 --> 0:14:09.559 I mean, I do think it's interesting. I think in 0:14:09.679 --> 0:14:13.079 some ways the picks are probably a little more traditional, 0:14:13.240 --> 0:14:16.040 isn't maybe exactly what I think, But they're not perhaps 0:14:16.160 --> 0:14:19.400 assort far out of the mainstream as some Democrats and 0:14:19.440 --> 0:14:21.480 critics may have feared he would go, so, at least 0:14:21.480 --> 0:14:23.600 from an early start, this does at least signal these 0:14:23.600 --> 0:14:27.680 are folks who have won elections and are are part 0:14:27.720 --> 0:14:30.080 of a little more in the mainstream parties. So there's 0:14:30.080 --> 0:14:32.440 probably a little bit of relief even within the Republican 0:14:32.480 --> 0:14:35.400 Party about some of these early choices. But it does 0:14:35.520 --> 0:14:38.560 raise some challenging questions potentially for that control of the House, 0:14:38.600 --> 0:14:42.120 particularly if it's really really slim. He's obviously picking people 0:14:42.120 --> 0:14:44.160 who are in reasonably safe districts, but there may be 0:14:44.280 --> 0:14:48.040 some sort of hiccups along the way depending on where 0:14:48.080 --> 0:14:51.600 the actual uh sort of line ends up with in 0:14:52.720 --> 0:14:55.640 control of the House, it is looking like Republicans will 0:14:55.680 --> 0:14:59.080 probably hold on, but that margin could be uncomfortably slim, 0:14:59.120 --> 0:15:02.000 particularly if he's to pick off a few people for 0:15:02.440 --> 0:15:03.440 his cabinet. 0:15:03.640 --> 0:15:05.760 Now our last minute, Kevin, one choice he's not making 0:15:05.840 --> 0:15:09.080 from Capitol Hill is South Dakota Governor Christy nom for 0:15:09.320 --> 0:15:12.400 Homeland Security, adding to his border security team. 0:15:12.800 --> 0:15:14.880 Yeah, that's right. I mean, she'll she'll come in in 0:15:14.920 --> 0:15:17.920 the position of having to be part of the sort 0:15:17.960 --> 0:15:20.880 of deportation pledge that that Trump has made for for 0:15:21.200 --> 0:15:28.480 for undocumented immigrants. And you know, obviously South Dakota isn't 0:15:28.480 --> 0:15:31.440 normally what you think of as a border state, so 0:15:31.920 --> 0:15:34.320 her level of experience on some of these issues is 0:15:34.360 --> 0:15:37.680 not exactly what you might have assumed. But she's been 0:15:37.720 --> 0:15:39.960 a tough talker on these issues. She's she's had a 0:15:40.000 --> 0:15:42.800 strong stance on it, and I think that she she 0:15:42.920 --> 0:15:44.880 did move to back Trump very early on. 0:15:45.120 --> 0:15:48.520 This is Bloomberg Daybreak, your morning podcast on the stories 0:15:48.600 --> 0:15:51.640 making news from Wall Street to Washington and beyond. 0:15:51.880 --> 0:15:54.280 Look for us on your podcast feed by six am 0:15:54.320 --> 0:15:57.720 Eastern each morning, on Apple, Spotify, or manywhere else you listen. 0:15:57.920 --> 0:16:00.800 You can also listen live each morning starting at five 0:16:00.840 --> 0:16:03.520 am Wall Street time on Bloomberg eleven three to zero 0:16:03.560 --> 0:16:06.440 in New York, Bloomberg in ninety nine to one in Washington. 0:16:06.520 --> 0:16:09.840 Bloomberg ninety two to nine in Boston and nationwide on 0:16:10.000 --> 0:16:12.200 serious XM Channel one twenty one. 0:16:12.600 --> 0:16:15.320 Plus listen coast to coast on the Bloomberg Business App 0:16:15.400 --> 0:16:18.160 now with Apple CarPlay and Android Atto interfaces. 0:16:18.400 --> 0:16:21.440 And don't forget to subscribe to Bloomberg News Now. It's 0:16:21.440 --> 0:16:24.200 the latest news whenever you want it in five minutes 0:16:24.280 --> 0:16:27.400 or less. Search Bloomberg News Now on your favorite podcast 0:16:27.440 --> 0:16:31.600 platform to stay informed all day long. I'm Karen Moscow. 0:16:31.400 --> 0:16:33.920 And I'm Nathan Hager. Join us again tomorrow morning for 0:16:33.960 --> 0:16:35.880 all the news you need to start your day right 0:16:35.920 --> 0:16:36.960 here on Bloomberg. 0:16:37.040 --> 0:16:37.360 Dabray