Israel Resumes War Against Hamas; Historic Month for Markets
On today's podcast:
1) Israel resumed combat against Hamas in the Gaza Strip after a week-long truce between the two sides ended on Friday morning.
2) European stocks advanced and the dollar fell before comments from Federal Reserve Chair Jerome Powell that may offer clues about the path of interest rates.
3) After two years of delays and production snags, Tesla has finally handed the first Blade Runner-esque Cybertrucks over to customers.
4) Governors Ron DeSantis of Florida and Gavin Newsom of California sparred over taxes, border security and energy, in a debate that unfolded as a sideshow to the 2024 presidential race — and perhaps a glimpse of the next one.
Full transcript:
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Israel has resumed airstrikes in Gaza, minutes after the expiration of a week long truce with Hamas we get the latest from Bloomberg's Anthony Squasien in Tel Aviv. Truce wasn't extended at seven am local time. It was some rocket warnings miss I was being fired and to Israel just before that ended, and Israel responded immediately, and it looked like we're back to fully fledged conflict right now. Reports of air strikes in Gaza made different parts of Gaza, and it does seem that the relative calm of the last seven days is well and truly over. Bloomberg's Anthony Squasiin in Tel Aviv, says Prime Minister Benjamin Netan. Yahoo and other Israeli politicians had consistently said the war would resume at some stage and the truce would not become permanent. Well, Nathan. Secretary of State Anthony Blinkin was in Tel Aviv when the fighting restarted yesterday. He said that Israel must defend itself within the confines of international law. Way israel defense itself matters. It's imperative that is relacted in accordance with internationally mediterran law and the laws of war, even when confronting a terrorist group that respects neither. And Secretary Anthony Blincoln was speaking before the latest escalation. Hamas and other Islamist groups are still thought to be holding around one hundred and thirty people captive in Gaza. Turning back to politics in the US, Karen, there's been a debate between a Republican who's running for president and a Democrat who says he's not. Florida Governor Ron de Santis squared off last night with California Governor Gavin Newsom. This is a slick, slippery politician whose state is failing. People are leaving a state. Governor DeSantis went after Newsom and California over immigration, high taxes, and crime. Governor Newsom touted the White House's message of Bidenomics three point nine percent unemployment, the lowest black unemployment in American history, the lowest unemployment for Hispanics in American history, the lower most unemployment for women in seventy years, at lowest black poverty rates in history, and the Fox News debate comes as DeSantis struggles to gain ground on Republican front runner Donald Trump in twenty twenty four. It also allowed Newsome to air his presidential ambitions for twenty twenty eight. Well, Nathan, Let's turn to the markets now. Stocks begin December after notatching one of the biggest November rallies on record, and we get more from Bloomberg Stirlei Pellett. After the months three trillion dollar serge, the S and P five hundred is now just five percent away from its all time high. The gauge climbed over eight percent in November, a feat achieved fewer than ten times for that month since nineteen twenty eight, according to data compiled by Bloomberg. It was also the gauge's best month since July of twenty twenty two in New York, Charlie Pellett, Bloomberg Radio and Charlie. Was also a profitable month for bond investors. In fact, treasuries had their best month since the nineteen eighties, and we get more on that from Bloomberg's John Tucker. The boon to bonds comes from signs the economy and inflation are slowing and the Fed is done hiking interest rates well. Traders are even betting on the first FED rate cut in May. Bloomberg Economics sees the FED cutting rates one hundred and twenty five basis points next year. The Bloomberg US Aggregate Index returned four and a half percent of November. That price up and yield down has spurred an everything rally, from stocks to cryptocurrencies. Does it continue? Listen closely today as FED Chair Jerome Powell speaks at Spelman College in Atlanta, and if he sounds even a little hawkish, November's rally may turn into the winter of our discontent. I'm John Tucker, Bloomberg Radio. All right, John, thank you. By the Federal Reserve's top bank, a watchdog wants lenders to be more comfortable turning to the Central banks discount window. Michael Barr, the FEDS Vice Chair for Supervision, towed to the backstop as an important tool for financial stability and monetary policy. The discount window provides ready access to funding that can help banks manage their liquidity risks. The ability to access funding at a predictable rate throughout through the discount window should figure importantly into banks liquidity risk management plans under a range of scenarios and the fence. Michael Barr added that it was important that lenders have a range of options for accessing liquidity struck some corporate news now Karen. After two years of delays and production snags, Tesla has finally handed the first cyber trucks over two customers. Tesla's CEO, Elon Musk, says it has an extra safety feature. Why do you make it bulletroof? I'm like, why not? Do you want to How tough is your truck bulletproof? He says. Elon Musk says the cheapest version of cyber Truck will cost just under sixty one thousand dollars. That's more than fifty percent over the price Musk floated when he announced the vehicle in twenty nineteen. Well Nathan Disney has restored its dividend. The entertainment giant declared a dividend of thirty censorsh for the second half of its fiscal year. Disney had pledged to restore the payout, which was halted during the pandemic. Disney has been under pressure to improve its performance and restore its dividend by activist investor Nelson Peltz, who is seeking board seats at the company. Well, speaking of under pressure, Karen, take a look at Dell shares. They are down nearly six percent in early trading. A company reported revenue that declined more than expected, and it continues to see sluggish corporate demand for personal computers. And it's time now for a look at some of the other stories making news around the world. For now, we're joined by Bloomberg's Amy Moore is Amy. Good morning, Good morning, Karen. The twenty twenty three United Nations Climate Change Conference, or COP twenty eight, launched yesterday. Now before the summit began, United Nations Secretary General Antonio Guterrez warned fossil fuel companies quote their old road is rapidly aging. It's time to end our addiction to fossil fools that is validating climate change. It's time to bet on guaranteeing through strong political will, that temperatures will authorise more than one point five degrees. At the end of the center, the United Arab Emirates, which is hosting the summit, announced a commitment of thirty billion dollars to help finance climate solutions. Tens of thousands of delegates are expected to make this the biggest summit ever. It is looking likely that Congress will take the unusual step to expel one of their own. Bloomberg's Nancy Lyons reports George Santos, on the brink of being kicked out of Congress, took his fight to the House floor. I have been convicted of no crimes, mister speaker, but following an investigation by the House Ethics Committee, members said they did find some troubling behavior. Committee chair Congressman Michael Guest offered highlights of the report. It says it Representative Santos sought to fraudulently exploit every aspect of his House candidacy for his own personal profit. After the ex fulshion vote, Santos still faces a twenty three count federal indictment that alleges he stole from donors and used campaign money for personal expenses in Washington, Nancy Lyons Bloomberg Radio. The CDC is monitoring a pneumonia outbreak among children in the Cincinnati area. Warren County, Ohio has reported one hundred and forty two infections since August. The outbreak comes amid China's surgeon hospitalizations, which CDC director doctor Mandy Cohen told Congress yesterday, is not being caused by a new virus. Do not believe this is a new or novel pathogen that we believe this is all existing, meaning COVID flu RSV. Cohen told Congress. The winter cold and flu season offers the CDC a chance to regain the public's trust, and former White House Chief Medical Advisor doctor Anthony Fauci is set to testify before Congress early next year on the origins of COVID and the pandemic response by the US. This would be the first time Fauci has testified since he retired. Global News twenty four hours of and Whenever You want it with Bloomberg News Now, I'm Amy Morrison. This is Bloomberg Karen all right, Amy, thank you. What we do bring you news throughout the day right here on Bloomberg Radio. As Amy said, but now also as she said, you can get the latest news on demand whenever you want it. So how do you do it? You subscribe to Bloomberg News Now to get the latest headlines at the click of a button. You can get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John darn Week thirteen underway Thursday night football in Dallas with the Cowboys. We're going for a fourteenth consecutive home victory. They trailed Seattle throughout the second half until at dak Prescott touchdown passed with four thirty seven laft. Cowboys won forty one to thirty five. Prescott having an MVP type season, he threw British GIAT three hundred yard three touchdowns Gino Smith the Seahawks qv also threw for three touchdowns, all of them went to DK Metcalf, but the Seahawks have now lost three in a row. They dropped to six and six. Buffalo Bills pass rusher Von Miller was facing in arrest. The rest warrant was issued last night in Dallas. He turned himself in. He's in Dallas because the Bills have a bye week. He was arrested on domestic violence charge in a case involving his girlfriend. The NFL on the pass has flex games moved them from the Sunday afternoon to Sunday nights. Never before had they flexed the game into a Monday night. They've done that for a week fifteen. Philadelphia and Seattle were supposed to play Sunday, It'll now be on a Monday, and Kansas City, New England moved from a Monday back to a Sunday. Shows you how bad the Patriots are for the NFL. The new Patrick Mahomes off of Prime time NBA. The Warriors with the Clippers won twenty to one fourteen. Steph Curry scored twenty six, had seven rebounds, eight assists. Hockey. The Bruins had lost three straight. They came home shut out the Sharks three to nothing. Washington won it Anaheim five to four, a win for LSU that have any national Champson women's basketball Angel hes Back in the lineup scored nineteen. She had been out the last board games. John Stshawer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. The truce is over in Gaza. The seven day ceasefire between Israel and Hamas has ended. Israel is resuming combat operations after Israel said Hamas violated its agreement that has released dozens of hostages over the last seven days in exchange for Palestinian prisoners. For the latest we were joined by Rosalind Mathison, Bloomberg News Director for Europe, Middle East and Africa. Roz, thanks for being with us once again. What set off this resumption of combat, Well, basically, the truce was due to lapside of the way in the early hour this morning. What we had seen previously was that the SEASPI was rolled over for two further days, and there had been talks to try and get it rolled over again. Those clearly weren't successful, and so that the SEASPI lapsed early this morning. And what we have is Hamas and Israel both accusing the other of violating the terms of the Sea SPI, not meeting the agreements about the release of Israeli hostages yesterday, the number of those hostages, Harmas accusing Israel in turn. And now we've seen a resumption of the fighting. As you say, we saw airstrikes into Gaza this morning. We know the fighting's going on there again. Hermas says there have been casualties and wounded at hospitals already, and Israel is making clear that their goal in the end still is to eradicate Hamas, and as part of that they now see the military campaign likely moving further south in the Gaza strip. It's been quite concentrated in the north. But the messaging today, the warning to people in Gaza today is be prepared because the military is going to now push further sout. And the messaging from the US with that expectation that the war would be heading to the south, was that Israel needs to limit civilian casualties. Talk about US diplomacy, the role that's playing there, and whether that could have any impact on what we see on the ground, well, that's right. In fact, the US Secretary of State Anthony Blincoln was still on the ground in Israel when the fighting did resume. He took off shortly afterward for Dubai to attend the COP twenty eighth summit, but in his meetings in Israel, he said he made very clear to officials there that the US is concerned about the humanitarian situation inside Gaza that they're urging Israel to do everything they can to limit the impact on civilians from this war and to also uphold international humanitarian law. And that was the public messaging, so privately you can imagine it was possibly a bit stronger. I mean, you can see the rhetoric shift really from the US since the start of this in October seven, which was the Hamas attack on Israel. The US does remain strongly supportive of Israel in this, but has become more vocal in their concerns about the impact on gas. And certainly that was a message that Blinkl was delivering on the ground. And even as the fighting continues, we're hearing from Kater, which has been leading negotiations on extending the ceasefire, that there are still talks underway to bring in further pauses. Can you give us further clarity on that? Well, that's right. In fact, even when the fighting was going on before the truce, we knew those lines of communication were working quite furiously. Katar, alongside Egypt and US officials acting as go betweens between Hamas and also Israel, and a role potentially for Iran in all of that. The idea was to get towards that initial truce that we saw that lasted for seven days in the end, and Kata has been out this morning very quickie to say despite the resumption of the fighting, those talks are still going on. It is hopeful that there can be a way back to at least other temporary truce. That's because there are still Israeli hostages inside Gaza that we know, and aid agencies that hope to get more humanitarian aid into Gaza during that window which has now shut at least for now, And so Kata is saying, we're still talking about there. We're hope you can get to a point to at least have a temporary truce. But the reality in the end also Israel has made very very clear that they intend to keep fighting. Their overarching goal is to eradicate Hamas, and right now they don't see that goal as having been met, only have a minute left ros. But before the fighting began, the New York Times reported that Israel got a hold of Hamas's battle plan for October seventh, more than a year ago. Tell us more about that, well, that's right. In fact, this was also reported by an Israeli media outlet Khan Media a couple of days ago, saying that Israel did get blueprints of this plan by Hamas a year ago, but dismissed it as too difficult for Hamas to carry out, implausible, and so didn't really follow up on it. And that echoes some of what we've seen from the reporting we've done ourselves, which is really this presumption on the part of the Israeli security forces the intelligence services, that Hamas wasn't able to do something of this nature, that yes, you'd see six skirmishes go on from time to time from Gaza into Israel, but that a full throated attack was impossible, and that's why in the end they kind of missed the signals leading up to the October seven attack. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York Bloomberg ninety nine to one in Washington. Bloomberg one six to one in Boston and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak
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Good morning. 0:00:03.080 --> 0:00:05.920 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:05.960 --> 0:00:07.440 stories we're following today. 0:00:07.800 --> 0:00:12.080 Israel has resumed airstrikes in Gaza, minutes after the expiration 0:00:12.240 --> 0:00:14.440 of a week long truce with Hamas we get the 0:00:14.520 --> 0:00:17.160 latest from Bloomberg's Anthony Squasien in Tel Aviv. 0:00:17.640 --> 0:00:20.079 Truce wasn't extended at seven am local time. It was 0:00:20.120 --> 0:00:22.599 some rocket warnings miss I was being fired and to 0:00:23.360 --> 0:00:27.200 Israel just before that ended, and Israel responded immediately, and 0:00:27.240 --> 0:00:30.560 it looked like we're back to fully fledged conflict right now. 0:00:30.760 --> 0:00:34.760 Reports of air strikes in Gaza made different parts of Gaza, 0:00:35.080 --> 0:00:37.400 and it does seem that the relative calm of the 0:00:37.440 --> 0:00:39.440 last seven days is well and truly over. 0:00:40.080 --> 0:00:44.000 Bloomberg's Anthony Squasiin in Tel Aviv, says Prime Minister Benjamin Netan. 0:00:44.080 --> 0:00:47.440 Yahoo and other Israeli politicians had consistently said the war 0:00:47.479 --> 0:00:49.680 would resume at some stage and the truce would not 0:00:49.760 --> 0:00:50.519 become permanent. 0:00:51.080 --> 0:00:51.520 Well, Nathan. 0:00:51.560 --> 0:00:54.560 Secretary of State Anthony Blinkin was in Tel Aviv when 0:00:54.560 --> 0:00:58.360 the fighting restarted yesterday. He said that Israel must defend 0:00:58.360 --> 0:01:01.040 itself within the confines of international law. 0:01:01.400 --> 0:01:03.520 Way israel defense itself matters. 0:01:04.880 --> 0:01:07.760 It's imperative that is relacted in accordance with internationally mediterran 0:01:07.920 --> 0:01:11.440 law and the laws of war, even when confronting a 0:01:11.520 --> 0:01:13.319 terrorist group that respects neither. 0:01:13.840 --> 0:01:18.040 And Secretary Anthony Blincoln was speaking before the latest escalation. 0:01:18.440 --> 0:01:21.399 Hamas and other Islamist groups are still thought to be 0:01:21.440 --> 0:01:24.480 holding around one hundred and thirty people captive in Gaza. 0:01:24.640 --> 0:01:27.640 Turning back to politics in the US, Karen, there's been 0:01:27.680 --> 0:01:30.480 a debate between a Republican who's running for president and 0:01:30.560 --> 0:01:33.720 a Democrat who says he's not. Florida Governor Ron de 0:01:33.800 --> 0:01:37.160 Santis squared off last night with California Governor Gavin Newsom. 0:01:37.520 --> 0:01:41.759 This is a slick, slippery politician whose state is failing. 0:01:41.920 --> 0:01:45.520 People are leaving a state. Governor DeSantis went after Newsom 0:01:45.600 --> 0:01:49.760 and California over immigration, high taxes, and crime. Governor Newsom 0:01:49.840 --> 0:01:53.160 touted the White House's message of Bidenomics. 0:01:52.640 --> 0:01:56.000 Three point nine percent unemployment, the lowest black unemployment in 0:01:56.080 --> 0:01:59.680 American history, the lowest unemployment for Hispanics in American history, 0:01:59.720 --> 0:02:02.240 the lower most unemployment for women in seventy years, at 0:02:02.240 --> 0:02:05.120 lowest black poverty rates in history, and. 0:02:05.080 --> 0:02:07.760 The Fox News debate comes as DeSantis struggles to gain 0:02:07.840 --> 0:02:10.919 ground on Republican front runner Donald Trump in twenty twenty four. 0:02:11.200 --> 0:02:14.280 It also allowed Newsome to air his presidential ambitions for 0:02:14.480 --> 0:02:15.400 twenty twenty eight. 0:02:15.840 --> 0:02:18.919 Well, Nathan, Let's turn to the markets now. Stocks begin 0:02:19.080 --> 0:02:22.600 December after notatching one of the biggest November rallies on record, 0:02:22.600 --> 0:02:24.680 and we get more from Bloomberg Stirlei Pellett. 0:02:25.120 --> 0:02:28.200 After the months three trillion dollar serge, the S and 0:02:28.240 --> 0:02:31.240 P five hundred is now just five percent away from 0:02:31.280 --> 0:02:35.000 its all time high. The gauge climbed over eight percent 0:02:35.200 --> 0:02:39.040 in November, a feat achieved fewer than ten times for 0:02:39.120 --> 0:02:42.800 that month since nineteen twenty eight, according to data compiled 0:02:42.800 --> 0:02:46.120 by Bloomberg. It was also the gauge's best month since 0:02:46.200 --> 0:02:49.560 July of twenty twenty two in New York, Charlie Pellett, 0:02:49.560 --> 0:02:51.320 Bloomberg Radio and Charlie. 0:02:51.360 --> 0:02:54.480 Was also a profitable month for bond investors. In fact, 0:02:54.520 --> 0:02:57.440 treasuries had their best month since the nineteen eighties, and 0:02:57.440 --> 0:02:59.359 we get more on that from Bloomberg's John Tucker. 0:03:00.160 --> 0:03:02.680 The boon to bonds comes from signs the economy and 0:03:02.720 --> 0:03:06.600 inflation are slowing and the Fed is done hiking interest 0:03:06.639 --> 0:03:09.320 rates well. Traders are even betting on the first FED 0:03:09.440 --> 0:03:12.960 rate cut in May. Bloomberg Economics sees the FED cutting 0:03:13.040 --> 0:03:15.840 rates one hundred and twenty five basis points next year. 0:03:16.280 --> 0:03:19.320 The Bloomberg US Aggregate Index returned four and a half 0:03:19.400 --> 0:03:22.840 percent of November. That price up and yield down has 0:03:22.880 --> 0:03:27.760 spurred an everything rally, from stocks to cryptocurrencies. Does it continue? 0:03:27.960 --> 0:03:31.320 Listen closely today as FED Chair Jerome Powell speaks at 0:03:31.320 --> 0:03:34.200 Spelman College in Atlanta, and if he sounds even a 0:03:34.200 --> 0:03:37.520 little hawkish, November's rally may turn into the winter of 0:03:37.560 --> 0:03:40.360 our discontent. I'm John Tucker, Bloomberg Radio. 0:03:40.720 --> 0:03:41.760 All right, John, thank you. 0:03:41.800 --> 0:03:45.200 By the Federal Reserve's top bank, a watchdog wants lenders 0:03:45.240 --> 0:03:48.960 to be more comfortable turning to the Central banks discount window. 0:03:49.360 --> 0:03:52.520 Michael Barr, the FEDS Vice Chair for Supervision, towed to 0:03:52.600 --> 0:03:56.120 the backstop as an important tool for financial stability and 0:03:56.200 --> 0:03:57.240 monetary policy. 0:03:57.560 --> 0:04:00.720 The discount window provides ready access to funding that can 0:04:00.800 --> 0:04:04.960 help banks manage their liquidity risks. The ability to access 0:04:05.000 --> 0:04:08.080 funding at a predictable rate throughout through the discount window 0:04:08.520 --> 0:04:12.880 should figure importantly into banks liquidity risk management plans under 0:04:12.920 --> 0:04:14.640 a range of scenarios. 0:04:14.560 --> 0:04:15.040 And the fence. 0:04:15.080 --> 0:04:17.839 Michael Barr added that it was important that lenders have 0:04:17.880 --> 0:04:21.320 a range of options for accessing liquidity. 0:04:21.080 --> 0:04:23.880 Struck some corporate news now Karen. After two years of 0:04:23.920 --> 0:04:27.400 delays and production snags, Tesla has finally handed the first 0:04:27.640 --> 0:04:32.120 cyber trucks over two customers. Tesla's CEO, Elon Musk, says 0:04:32.160 --> 0:04:33.880 it has an extra safety feature. 0:04:34.080 --> 0:04:36.919 Why do you make it bulletroof? I'm like, why not? 0:04:39.400 --> 0:04:42.400 Do you want to How tough is your truck bulletproof? 0:04:42.400 --> 0:04:45.200 He says. Elon Musk says the cheapest version of cyber 0:04:45.240 --> 0:04:48.200 Truck will cost just under sixty one thousand dollars. That's 0:04:48.240 --> 0:04:50.720 more than fifty percent over the price Musk floated when 0:04:50.720 --> 0:04:53.320 he announced the vehicle in twenty nineteen. 0:04:53.880 --> 0:04:57.520 Well Nathan Disney has restored its dividend. The entertainment giant 0:04:57.560 --> 0:05:01.239 declared a dividend of thirty censorsh for the second half 0:05:01.279 --> 0:05:04.960 of its fiscal year. Disney had pledged to restore the payout, 0:05:05.000 --> 0:05:08.279 which was halted during the pandemic. Disney has been under 0:05:08.320 --> 0:05:11.760 pressure to improve its performance and restore its dividend by 0:05:11.800 --> 0:05:15.840 activist investor Nelson Peltz, who is seeking board seats at 0:05:15.839 --> 0:05:16.359 the company. 0:05:16.480 --> 0:05:18.800 Well, speaking of under pressure, Karen, take a look at 0:05:19.000 --> 0:05:22.799 Dell shares. They are down nearly six percent in early trading. 0:05:23.120 --> 0:05:26.240 A company reported revenue that declined more than expected, and 0:05:26.320 --> 0:05:30.440 it continues to see sluggish corporate demand for personal computers. 0:05:34.240 --> 0:05:35.520 And it's time now for a look at some of 0:05:35.560 --> 0:05:37.800 the other stories making news around the world. For now, 0:05:37.839 --> 0:05:39.760 we're joined by Bloomberg's Amy Moore is Amy. 0:05:39.800 --> 0:05:42.880 Good morning, Good morning, Karen. The twenty twenty three United 0:05:43.000 --> 0:05:46.719 Nations Climate Change Conference, or COP twenty eight, launched yesterday. 0:05:46.960 --> 0:05:50.599 Now before the summit began, United Nations Secretary General Antonio 0:05:50.600 --> 0:05:55.000 Guterrez warned fossil fuel companies quote their old road is 0:05:55.200 --> 0:05:56.120 rapidly aging. 0:05:56.240 --> 0:05:59.479 It's time to end our addiction to fossil fools that 0:05:59.640 --> 0:06:05.600 is validating climate change. It's time to bet on guaranteeing 0:06:06.160 --> 0:06:10.720 through strong political will, that temperatures will authorise more than 0:06:10.760 --> 0:06:12.160 one point five degrees. 0:06:12.440 --> 0:06:15.120 At the end of the center, the United Arab Emirates, 0:06:15.120 --> 0:06:17.719 which is hosting the summit, announced a commitment of thirty 0:06:17.760 --> 0:06:21.919 billion dollars to help finance climate solutions. Tens of thousands 0:06:21.960 --> 0:06:25.279 of delegates are expected to make this the biggest summit ever. 0:06:25.720 --> 0:06:28.560 It is looking likely that Congress will take the unusual 0:06:28.600 --> 0:06:30.520 step to expel one of their own. 0:06:30.720 --> 0:06:32.640 Bloomberg's Nancy Lyons. 0:06:32.279 --> 0:06:35.200 Reports George Santos, on the brink of being kicked out 0:06:35.200 --> 0:06:37.400 of Congress, took his fight to the House floor. 0:06:37.560 --> 0:06:40.120 I have been convicted of no crimes, mister speaker. 0:06:39.800 --> 0:06:42.960 But following an investigation by the House Ethics Committee, members 0:06:42.960 --> 0:06:46.599 said they did find some troubling behavior. Committee chair Congressman 0:06:46.640 --> 0:06:48.680 Michael Guest offered highlights of the report. 0:06:48.920 --> 0:06:55.000 It says it Representative Santos sought to fraudulently exploit every 0:06:55.160 --> 0:06:59.240 aspect of his House candidacy for his own personal profit. 0:06:59.400 --> 0:07:02.480 After the ex fulshion vote, Santos still faces a twenty 0:07:02.480 --> 0:07:05.960 three count federal indictment that alleges he stole from donors 0:07:06.000 --> 0:07:09.720 and used campaign money for personal expenses in Washington, Nancy 0:07:09.840 --> 0:07:11.040 Lyons Bloomberg Radio. 0:07:11.240 --> 0:07:15.160 The CDC is monitoring a pneumonia outbreak among children in 0:07:15.240 --> 0:07:19.160 the Cincinnati area. Warren County, Ohio has reported one hundred 0:07:19.200 --> 0:07:23.160 and forty two infections since August. The outbreak comes amid 0:07:23.240 --> 0:07:27.800 China's surgeon hospitalizations, which CDC director doctor Mandy Cohen told 0:07:27.840 --> 0:07:31.080 Congress yesterday, is not being caused by a new virus. 0:07:31.160 --> 0:07:34.560 Do not believe this is a new or novel pathogen 0:07:34.600 --> 0:07:38.440 that we believe this is all existing, meaning COVID flu RSV. 0:07:39.360 --> 0:07:40.440 Cohen told Congress. 0:07:40.440 --> 0:07:43.080 The winter cold and flu season offers the CDC a 0:07:43.200 --> 0:07:46.480 chance to regain the public's trust, and former White House 0:07:46.520 --> 0:07:49.520 Chief Medical Advisor doctor Anthony Fauci is set to testify 0:07:49.560 --> 0:07:52.880 before Congress early next year on the origins of COVID 0:07:52.920 --> 0:07:55.560 and the pandemic response by the US. This would be 0:07:55.600 --> 0:07:59.000 the first time Fauci has testified since he retired. Global 0:07:59.040 --> 0:08:01.080 News twenty four hours of and Whenever You want it 0:08:01.080 --> 0:08:03.320 with Bloomberg News Now, I'm Amy Morrison. 0:08:03.400 --> 0:08:04.720 This is Bloomberg Karen. 0:08:04.520 --> 0:08:06.120 All right, Amy, thank you. What we do bring you 0:08:06.200 --> 0:08:09.160 news throughout the day right here on Bloomberg Radio. As 0:08:09.200 --> 0:08:12.120 Amy said, but now also as she said, you can 0:08:12.120 --> 0:08:15.240 get the latest news on demand whenever you want it. 0:08:15.280 --> 0:08:16.080 So how do you do it? 0:08:16.160 --> 0:08:18.720 You subscribe to Bloomberg News Now to get the latest 0:08:18.720 --> 0:08:21.320 headlines at the click of a button. You can get 0:08:21.360 --> 0:08:24.480 informed on your schedule. You can listen and subscribe to 0:08:24.520 --> 0:08:27.880 Bloomberg News Now on the Bloomberg Business app, Bloomberg dot 0:08:27.880 --> 0:08:32.000 Com plus apples, Spotify, and anywhere else you get your podcasts. 0:08:36.320 --> 0:08:39.560 Time now for the Bloomberg Sports Update. Here's John stash 0:08:39.559 --> 0:08:40.520 Hour John. 0:08:40.720 --> 0:08:44.000 Darn Week thirteen underway Thursday night football in Dallas with 0:08:44.080 --> 0:08:47.440 the Cowboys. We're going for a fourteenth consecutive home victory. 0:08:47.480 --> 0:08:50.720 They trailed Seattle throughout the second half until at dak 0:08:50.760 --> 0:08:54.640 Prescott touchdown passed with four thirty seven laft. Cowboys won 0:08:54.800 --> 0:08:58.360 forty one to thirty five. Prescott having an MVP type season, 0:08:58.679 --> 0:09:01.400 he threw British GIAT three hundred yard three touchdowns Gino 0:09:01.520 --> 0:09:04.720 Smith the Seahawks qv also threw for three touchdowns, all 0:09:04.760 --> 0:09:06.880 of them went to DK Metcalf, but the Seahawks have 0:09:06.920 --> 0:09:07.840 now lost three in a row. 0:09:08.160 --> 0:09:09.960 They dropped to six and six. 0:09:10.720 --> 0:09:14.920 Buffalo Bills pass rusher Von Miller was facing in arrest. 0:09:15.040 --> 0:09:18.200 The rest warrant was issued last night in Dallas. He 0:09:18.320 --> 0:09:20.719 turned himself in. He's in Dallas because the Bills have 0:09:20.840 --> 0:09:23.880 a bye week. He was arrested on domestic violence charge 0:09:23.880 --> 0:09:26.680 in a case involving his girlfriend. The NFL on the 0:09:26.720 --> 0:09:29.760 pass has flex games moved them from the Sunday afternoon 0:09:29.760 --> 0:09:31.840 to Sunday nights. Never before had they flexed the game 0:09:31.920 --> 0:09:35.240 into a Monday night. They've done that for a week fifteen. 0:09:35.280 --> 0:09:38.040 Philadelphia and Seattle were supposed to play Sunday, It'll now 0:09:38.040 --> 0:09:41.000 be on a Monday, and Kansas City, New England moved 0:09:41.040 --> 0:09:43.719 from a Monday back to a Sunday. Shows you how 0:09:43.720 --> 0:09:46.360 bad the Patriots are for the NFL. The new Patrick 0:09:46.360 --> 0:09:49.760 Mahomes off of Prime time NBA. The Warriors with the 0:09:49.760 --> 0:09:53.240 Clippers won twenty to one fourteen. Steph Curry scored twenty six, 0:09:53.320 --> 0:09:54.800 had seven rebounds, eight assists. 0:09:54.800 --> 0:09:55.199 Hockey. 0:09:55.240 --> 0:09:57.880 The Bruins had lost three straight. They came home shut 0:09:57.880 --> 0:10:00.439 out the Sharks three to nothing. Washington won it Anaheim 0:10:00.559 --> 0:10:03.160 five to four, a win for LSU that have any 0:10:03.200 --> 0:10:06.520 national Champson women's basketball Angel hes Back in the lineup 0:10:06.559 --> 0:10:09.120 scored nineteen. She had been out the last board games. 0:10:09.280 --> 0:10:11.240 John Stshawer Bloomberg Sports. 0:10:13.800 --> 0:10:16.760 From coast to coast, from New York to San Francisco, 0:10:17.160 --> 0:10:21.800 Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg 0:10:21.840 --> 0:10:26.000 Business app in Bloomberg dot Com. This is Bloomberg Daybreak. 0:10:27.080 --> 0:10:30.920 Good morning. I'm Nathan Hager. The truce is over in Gaza. 0:10:31.000 --> 0:10:34.160 The seven day ceasefire between Israel and Hamas has ended. 0:10:34.520 --> 0:10:38.959 Israel is resuming combat operations after Israel said Hamas violated 0:10:39.280 --> 0:10:42.880 its agreement that has released dozens of hostages over the 0:10:42.920 --> 0:10:45.760 last seven days in exchange for Palestinian prisoners. For the 0:10:45.840 --> 0:10:48.760 latest we were joined by Rosalind Mathison, Bloomberg News Director 0:10:48.760 --> 0:10:51.760 for Europe, Middle East and Africa. Roz, thanks for being 0:10:51.760 --> 0:10:55.240 with us once again. What set off this resumption of combat. 0:10:56.040 --> 0:10:58.560 Well, basically, the truce was due to lapside of the 0:10:58.559 --> 0:11:01.640 way in the early hour this morning. What we had 0:11:01.640 --> 0:11:05.160 seen previously was that the SEASPI was rolled over for 0:11:05.240 --> 0:11:08.360 two further days, and there had been talks to try 0:11:08.400 --> 0:11:12.040 and get it rolled over again. Those clearly weren't successful, 0:11:12.040 --> 0:11:15.240 and so that the SEASPI lapsed early this morning. 0:11:15.720 --> 0:11:16.600 And what we have is. 0:11:16.559 --> 0:11:20.719 Hamas and Israel both accusing the other of violating the 0:11:20.800 --> 0:11:23.800 terms of the Sea SPI, not meeting the agreements about 0:11:23.800 --> 0:11:28.439 the release of Israeli hostages yesterday, the number of those hostages, 0:11:28.679 --> 0:11:32.400 Harmas accusing Israel in turn. And now we've seen a 0:11:32.440 --> 0:11:35.360 resumption of the fighting. As you say, we saw airstrikes 0:11:35.800 --> 0:11:38.520 into Gaza this morning. We know the fighting's going on 0:11:38.640 --> 0:11:43.360 there again. Hermas says there have been casualties and wounded 0:11:43.400 --> 0:11:46.880 at hospitals already, and Israel is making clear that their 0:11:46.880 --> 0:11:50.040 goal in the end still is to eradicate Hamas, and 0:11:50.080 --> 0:11:52.800 as part of that they now see the military campaign 0:11:52.920 --> 0:11:55.839 likely moving further south in the Gaza strip. 0:11:55.880 --> 0:11:57.920 It's been quite concentrated in the north. 0:11:57.960 --> 0:12:00.880 But the messaging today, the warning to people in Gaza 0:12:00.920 --> 0:12:03.320 today is be prepared because the military is going to 0:12:03.360 --> 0:12:04.400 now push further sout. 0:12:04.760 --> 0:12:07.520 And the messaging from the US with that expectation that 0:12:07.640 --> 0:12:09.760 the war would be heading to the south, was that 0:12:09.880 --> 0:12:15.400 Israel needs to limit civilian casualties. Talk about US diplomacy, 0:12:15.679 --> 0:12:17.920 the role that's playing there, and whether that could have 0:12:18.000 --> 0:12:20.080 any impact on what we see on the ground. 0:12:20.640 --> 0:12:21.240 Well, that's right. 0:12:21.280 --> 0:12:24.200 In fact, the US Secretary of State Anthony Blincoln was 0:12:24.240 --> 0:12:27.360 still on the ground in Israel when the fighting did resume. 0:12:27.440 --> 0:12:30.240 He took off shortly afterward for Dubai to attend the 0:12:30.280 --> 0:12:33.600 COP twenty eighth summit, but in his meetings in Israel, 0:12:33.640 --> 0:12:36.600 he said he made very clear to officials there that 0:12:36.640 --> 0:12:40.960 the US is concerned about the humanitarian situation inside Gaza 0:12:41.120 --> 0:12:44.360 that they're urging Israel to do everything they can to 0:12:44.520 --> 0:12:48.560 limit the impact on civilians from this war and to 0:12:48.640 --> 0:12:53.240 also uphold international humanitarian law. And that was the public messaging, 0:12:53.360 --> 0:12:57.040 so privately you can imagine it was possibly a bit stronger. 0:12:57.120 --> 0:13:00.160 I mean, you can see the rhetoric shift really from 0:13:00.200 --> 0:13:03.160 the US since the start of this in October seven, 0:13:03.200 --> 0:13:07.079 which was the Hamas attack on Israel. The US does 0:13:07.120 --> 0:13:10.640 remain strongly supportive of Israel in this, but has become 0:13:10.720 --> 0:13:14.120 more vocal in their concerns about the impact on gas. 0:13:14.160 --> 0:13:16.480 And certainly that was a message that Blinkl was delivering 0:13:16.520 --> 0:13:17.040 on the ground. 0:13:17.480 --> 0:13:20.400 And even as the fighting continues, we're hearing from Kater, 0:13:20.559 --> 0:13:25.200 which has been leading negotiations on extending the ceasefire, that 0:13:25.200 --> 0:13:29.480 there are still talks underway to bring in further pauses. 0:13:29.480 --> 0:13:30.920 Can you give us further clarity on that? 0:13:31.880 --> 0:13:32.440 Well, that's right. 0:13:32.480 --> 0:13:34.960 In fact, even when the fighting was going on before 0:13:35.000 --> 0:13:37.480 the truce, we knew those lines of communication were working 0:13:37.600 --> 0:13:42.520 quite furiously. Katar, alongside Egypt and US officials acting as 0:13:42.600 --> 0:13:46.959 go betweens between Hamas and also Israel, and a role 0:13:47.040 --> 0:13:49.160 potentially for Iran in all of that. 0:13:49.280 --> 0:13:51.160 The idea was to get towards. 0:13:50.679 --> 0:13:53.640 That initial truce that we saw that lasted for seven 0:13:53.720 --> 0:13:55.960 days in the end, and Kata has been out this 0:13:55.960 --> 0:13:58.960 morning very quickie to say despite the resumption of the fighting, 0:13:59.520 --> 0:14:03.240 those talks are still going on. It is hopeful that 0:14:03.280 --> 0:14:05.559 there can be a way back to at least other 0:14:05.679 --> 0:14:10.000 temporary truce. That's because there are still Israeli hostages inside 0:14:10.080 --> 0:14:14.280 Gaza that we know, and aid agencies that hope to 0:14:14.320 --> 0:14:18.920 get more humanitarian aid into Gaza during that window which 0:14:18.920 --> 0:14:21.600 has now shut at least for now, And so Kata 0:14:21.640 --> 0:14:23.680 is saying, we're still talking about there. We're hope you 0:14:23.680 --> 0:14:25.680 can get to a point to at least have a 0:14:25.760 --> 0:14:28.400 temporary truce. But the reality in the end also Israel 0:14:28.480 --> 0:14:32.000 has made very very clear that they intend to keep fighting. 0:14:32.320 --> 0:14:35.800 Their overarching goal is to eradicate Hamas, and right now 0:14:35.840 --> 0:14:38.040 they don't see that goal as having been met. 0:14:38.160 --> 0:14:40.760 Only have a minute left ros. But before the fighting began, 0:14:40.840 --> 0:14:43.320 the New York Times reported that Israel got a hold 0:14:43.320 --> 0:14:46.160 of Hamas's battle plan for October seventh, more than a 0:14:46.280 --> 0:14:48.720 year ago. Tell us more about that. 0:14:49.440 --> 0:14:49.960 Well, that's right. 0:14:49.960 --> 0:14:52.680 In fact, this was also reported by an Israeli media 0:14:52.760 --> 0:14:55.960 outlet Khan Media a couple of days ago, saying that 0:14:56.200 --> 0:15:00.280 Israel did get blueprints of this plan by Hamas a 0:15:00.360 --> 0:15:03.120 year ago, but dismissed it as too difficult for Hamas 0:15:03.160 --> 0:15:06.480 to carry out, implausible, and so didn't really follow up 0:15:06.520 --> 0:15:08.520 on it. And that echoes some of what we've seen 0:15:09.640 --> 0:15:12.120 from the reporting we've done ourselves, which is really this 0:15:12.240 --> 0:15:15.200 presumption on the part of the Israeli security forces the 0:15:15.240 --> 0:15:18.960 intelligence services, that Hamas wasn't able to do something of 0:15:19.040 --> 0:15:22.320 this nature, that yes, you'd see six skirmishes go on 0:15:22.400 --> 0:15:25.600 from time to time from Gaza into Israel, but that 0:15:25.640 --> 0:15:28.880 a full throated attack was impossible, and that's why in 0:15:28.920 --> 0:15:31.040 the end they kind of missed the signals leading up 0:15:31.040 --> 0:15:32.360 to the October seven attack. 0:15:34.040 --> 0:15:36.960 This is Bloomberg day Break Today, your morning brief on 0:15:37.040 --> 0:15:40.640 the stories making news from Wall Street to Washington and beyond. 0:15:40.840 --> 0:15:43.600 Look for us on your podcast feed at six am 0:15:43.680 --> 0:15:47.360 Eastern each morning, on Apple, Spotify, and anywhere else you 0:15:47.400 --> 0:15:48.600 get your podcasts. 0:15:48.680 --> 0:15:51.400 You can also listen live each morning starting at five 0:15:51.440 --> 0:15:54.000 am Wall Street time on Bloomberg eleven three to zero 0:15:54.080 --> 0:15:56.920 in New York Bloomberg ninety nine to one in Washington. 0:15:57.040 --> 0:16:00.240 Bloomberg one six to one in Boston and Bloomberg nine 0:16:00.280 --> 0:16:01.680 sixty in San Francisco. 0:16:02.040 --> 0:16:05.200 Our flagship New York station is also available on your 0:16:05.240 --> 0:16:10.680 Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. 0:16:10.720 --> 0:16:14.920 Listen coast to coast on the Bloomberg Business app, SERIUSXM. 0:16:14.240 --> 0:16:18.520 The iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager. 0:16:18.280 --> 0:16:19.440 And I'm Karen Moscow. 0:16:19.680 --> 0:16:22.440 Join us again tomorrow morning for all the news you 0:16:22.560 --> 0:16:25.760 need to start your day right here on Bloomberg Daybreak