Trump Banned from Maine Ballot; Supply Threats amid Red Sea Attacks
On today's podcast:
1) Maine’s secretary of state ruled that Donald Trump cannot run in the state’s Republican primary, citing his efforts to overturn the 2020 election results.
2) The US military is trying to reassure shipping companies that a multinational force is making it safe to sail through the Red Sea and Suez Canal even though attacks from Yemen-based Houthi rebels show no sign of stopping.
3) Nvidia Corp., the world’s most valuable chipmaker, is selling a less-capable version of its best graphics product for video gamers in China, after the US government tightened restrictions on what the company can market in that country.
Full Transcript:
Good morning. I'm John Tucker and I'm Karen Moscow. Here are the stories we're following today. Let's begin with politics and another ban for Donald Trump. Maine's secretary of state has removed the former president from the Republican primary ballot ahead of the twenty twenty four election. Details this morning from Bloomberg's Ed Baxter, Secretary of State Shedd of Bellows, is using the insurrection clause to become the first election official to take unilateral action. Bellow says insurrection for his activities in the January sixth election overturn riots. The Trump campaign says it will appeal in Former Congressman John Katko says it should go to the top. It's got to go to Supreme Court. Several states and now I had this ruined. So the Supreme Court's going to set the parameters of what we do with situationally like this going forward. So the US Supreme Court should have a number of cases now from which to choose on the issue. At Baxter Bloomberg Radio, All right, ed, Thanks, And ahead of yesterday's decision, presidential campaign blasted main Secretary of State Shenna Bellows, colloring her hyperpartisan and a virulent leftist. Trump's campaign says it will quickly seek to appeal her decision in Maine State court, and turning down to geopolitical news, half of containerships which regularly use the Suez Canal are avoiding the route and the recent attacks by the houthy militants of the Red Sea. Data compiled by Flexport shows two hundred and ninety nine container ships have either changed course or planned to That accounts for eighteen percent of global trade. Mercury Resources CEO Anton Posner says many major firms want to know more about the US response to the attacks. We're seeing increased freight, increased insurance, a lot of uncertainty, and mixed signals from shipowners, container lines, and from governments on what's happening. To basically mitigate the risk and the threats that are out there, phonesium in the ardent groups. Mercury Resources CEO Anton Post nurses some companies are your puting off decisions until the new year, as at tax continue. The US says it's speaking with shipping firms in an attempt to ease the concerns, and Johnny also continued to follow developments in Ukraine, Russia launching deadly strikes on civilian targets in Ukrainian cities overnight. It came days after Russia reported one of its ships in Crimea was damaged by Ukrainian missile strike, with Kiev stepping up attacks against Moscow's navy, and as we enter the new year, Ukraine's pleating with foreign donors to send aid a mid uncertainty over its twenty twenty four budget and turning down to the markets and the final day of the twenty twenty three rally with the investors anticipating FED rate cuts in the new year. The S and P five hundred cap yesterday's session just a few points away from its all time high. This year, the S and P five hundred is up almost twenty five percent, with the MSCI All Country World Index rallying about twenty percent. Mona Mahajan, the senior investment strategist with Edward Jones, says the rallies broadened over the final bonds of twenty twenty three year really driven by that magnificent seven a large cap technology trade, and over the last few weeks we have seen a broadening of participation, whether it's value cyclical parts of the market, whether it's small and MidCap parts of market, whether it's bond markets, all of which have played some catch up in recent weeks. Mana mahajin with m Where Jones says signs of cooling inflation and anticipation of a FED pivot continued to drive the rally forward and oversus this morning, John European stocks eking out one last gain on the final trading day of the year, but it's not all good news specifically in the UK, and Bloomberg. Stephen Carroll joins us with more from London. Good morning, Stephen, Good morning, Karen and John. Inflation has slowed sharply in the UK in recent months, but consumers are increasingly worried about the year ahead. A KPMG survey shows four and ten people are more concerned about their financial security now than they were a year ago, while data from Barcleycard indicates households are cutting back on things like clothing and eating out. All of that raising fears of a consumer that could tip the economy into session. When relative bright spot the latest house price data from nationwide showing prices fell less than two percent in twenty twenty three, defying expectations of a sharper downturn in London, Stephen Carol Bloomberg Radio, thanks Steven and In a banner year for stocks, the Nasdaq scept for its best year since nineteen ninety nine after his seven trillion dollar search artificial intelligence mania driving the run for the tech heav engauge from Nvidia to Microsoft, the seven largest US tech stocks, the Magnificent Seven, were responsible for sixty four percent of the nanstac rally this year. The index is up over fifty percent in twenty twenty three. And speaking of Nvidia, John the chip making giant is selling a hobbled version of a gaming chip to its Chinese customers. Bloomberg Tech reporter Ian King says the move comes after the US government tightened restrictions on what the company can market there. Really what matters is what happens in the AI accelerator market, and Video said it's going to have new tips for that business for China to meet these new rules. We don't know when that's coming, orisindeed if that will actually come, and that will have a much more concrete impact on revenue and bloombergsing and King says, this version of Nvidia's chip for China's market has about ten percent fewer processing cores than what it sells in other countries and elon Musk acts formally, Twitter lost its effor in court to block at California loss seeking to control toxic posts. More from Bloomberg's Charlie Pellett. In an eight page ruling of federal judge in Sacramento rejected arguments by the company formerly known as Twitter that the measure violates the free speech rights of social media platforms. The ruling comes after Musk ignited a firestorm in November by endorsing anti Semitic posts on his platform. X Corps CEOs scrambled to contain the fallout after major advertisers like Sony, Discovery, Apple, and CBS stopped or paused spending on the site. In New York, Charlie Pellett bloom Radio, it is time now for a look at some of the other stories making news around the world and for that were joined by Bloomberg's Amy Morris, Amy, Good Morning, Good morning, Karen. The Biden administration is warning Texas about its new immigration law to deal with illegal migration, Bloomberg's Nancy Lyons reports in a letter. The Justice Department reportedly says it will file a lawsuit against Texas if it implements the law that would empower state and local law enforcement officials to arrest, jail, and prosecute migrants suspected of entering the US ilegally. CBS News reports the DOJ says the law would basically criminalize actions that are already illegal at the federal level, and would undermine relations with Mexico and prevent officials from enforcing federal immigration laws. The measure is already being challenged by the American Civil Liberties Union that argues the law is unconstitutional. In Washington, Nancy lyons Bloomberg Radio, more US sailors and marines are being moved into the Eastern Mediterranean. CBS for reporting the two amphibious ships carrying fifteen hundred sailors and marines, along with jet fighters, helicopters, and armored vehicles, have transited the Suez Canal from the Red Sea into the Eastern Mediterranean. This gives the US military more ability to evacuate Americans from Lebanon if necessary. Israeli officials have been increasingly vocal with their threats to clear out a buffer zone in southern Lebanon if Hesbella's shelling of northern Israel doesn't stop. President Biden meanwhile says he's devastated to learn another American was killed by AMAS. American Judy Weinstein Hagai, was killed in the October seventh Hamas incursion. Biden vowed to do everything possible to bring home the remaining hostages, including IDF soldier Aiden Alexander from New Jersey. Alexander's mother is calling for her son's return. He's my boy, and every day, every minute of the day, I'm just I'm terrified. There are now six Americans presumed captive in Gaza, and the World Health Organization says it's getting harder to deliver medical supplies and fuel to Gaza because hungry people keep stopping the convoys searching for food. Gaza's health ministry also says dozens of people were killed in strikes across the Gaza Strip yesterday, days after Israeli forces said they'd be expanding operations. The Washington Post reports the director of one hospital says Sunday's attack killed at least eighty people. Global News twenty four hours a day and whenever you want it with Bloomberg News. Now I'm Amy Morris, and this is Bloomberg Karen. All right, Amy, thanks. We bring you news throughout the day right here on Bloomberg Radio. But now, as Amy's said, you can get the latest news on demand, and that means whenever you wanted, just subscribe to Bloomberg News Now to get the latest headlines right at the click of a button. 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 Dan Schwartzman. Dan, good morning, Good morning Karen. The Cleveland Browns clinched just their second trip to the playoffs since two thousand and two with a dominating performance against the New York Jets. Joe Flacco got hit. He rolls out of the head, he runs it, then he crows it and fort caught it head, the thirty head, the twenty head, the fifteen head, the ten head of five past no good head. He vaulted for tag jing board Hot you. That's courtesy of ESPN eight to fifty Radio in Cleveland, behind three hundred and nine passing yards and three touchdowns from Joe Flacco. The Browns improved eleven and five on the season with a thirty seven to twenty win over the Jets. Jerome Ford catching two touchdown passes while David and Joe who gains one hundred and thirty four yards on six catches. Jets fall to six and ten on the season. Week seventeen of the NFL season continuing Saturday with the Marquee matchup in Dallas as the ten and five Cowboys are hosting the eleven and four Detroit Lions. Speaking of Detroit, the Pistons were oh so close to ending their twenty seven game losing streak as they led the Boston Celtics by nineteen points at halftime and at one point by twenty one points before collapsing and losing in overtime one twenty eight to one twenty two. By dropping their twenty eighth consecutive game, the Pistons time the Philadelphia seventy six ers for the longest losing streak of all time, which Philly accomplished between the end of the twenty fourteen twenty fifteen season and the start of the next year. Elsewhere, Nikola Jokich turning in a perfect triple double, not missing from the field or the free throw line in the Nuggets one forty two to one to five, winner of the Grizzlies. That's your Bloomberg Sports update on the ent shportsman from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business Appen Bloomberg dot Com. This is Bloomberg Daybreak and good morning. I'm John Tuckery. You did hear. Among our top stories mains Secretary of State rule that Donald Trump cannot run in the state's Republican primaries, citing his efforts to overturn the twenty twenty election results. Let's take a deeper dive into the story this morning. We're joined now by Terry Haynes of Pangea Policy. Always a pleasure to speak to you, Terry. Certainly it's not going to be the last word, and it sets up for what one observer calls an epic constitutional showdown. What is your view? My view, firstly is discount anytime anybody says things like epic. But secondly, John, I think what you have to understand is what listeners have to understand is a little bit of perspective here Colorado. This Colorado Supreme Court, by a four to three decision, made its determination, but its Secretary of State has already said that Trump's going to be on the primary ballot, you know, abbs in some sort of additional action. So if that doesn't confuse things enough. Secondly, what you've got from the main Secretary of State yesterday is kind of an executative version of what the Colorado Supreme Court said, deciding on our own that trum Trump was an insurrectionist, but also understanding that the thing is going to be appealed. Net I wouldn't look for any of these things to stick. The Supreme Court of the United States is almost certainly not going to allow states to decide how to interpret the fourteenth Amendment of the Constitution, or alone denied candidate to federal rights under the Fifth Amendment. So, you know, generally speaking, I think these things are overblown. And the last thing I will say is there's a lot of state and federal courts that have decided in ways opposite of the Colorado and main courts. People need to remember that too. Donald Trump initially ran as a disruptor, and now he seems to be running as a victim. Does this all embolden him or does it give rise to some something along the lines of Trump fatigue. You know, that's a very good question, and I think the answer probably is some of both. The conventional wisdom right now is that this emboldens and empowers him with the electorate. You can certainly see how that might be so instinctively. But at the same time, it also I think adds to the appeal of not Trump Republican candidates who say, look, if you like the conservative policies and have them during Trump's administration, we can have those back, and we can have them without the circus. We're going to find out which of those is true, or potentially whether both of them are true, starting in about three weeks in Iowa, and so you know, we will see. But the attains me not to make a call on that, but I mean, truly we will see. I'm not going to be the expert on the feelings of the Iowa electorate, but the bottom line is is that I underperformed in the Iowa caucuses is going to give rise to a narrative that Trump, it might not be as strong, and the challengers are getting stronger, and that will reinvigorate the race at it to some extent. All right, speaking of challengers, Nikki Haley also making news with what she says or doesn't say, are the causes of the Civil War, namely slavery. How does that play out in the election cycle. I think that's a blip, honestly, John. It's used by and I'm not meaning to to minimize, No, I mean to minimize what she said or how she said it. But I think it's a blip. You know, she did what she needed to do, which was she was trying to make a trying to use a kind of states rights versus federal point about the war to make a case about the tensions that exist today. It was ham fisted, and she took it back, she clarified, and I think that that goes away pretty quickly. Honestly, this is kind of out of left field. Is Joe Biden going to stick with Vice President Kamala Harris as his running mate? Oh? I think so. Yeah. The Biden sees Harris whole including faults, but he would have a devil of a time taking taking her off the ticket at this point, and for that reason alone, I think he won't give us your view of how the election is all playing out. I will refer listeners right back to a very interesting Bloomberg story on the terminal about a Quinnipiac poll that was released on Wednesday that shows Biden and Trump basically the dead heat and the popular poll, but if you add Bob Kennedy to it, it becomes a thirty eight Biden thirty six Trump Kennedy twenty two race. And I point that out only to say that I've been saying for some time that third parties are going to be more invigorated and more important to this presidential race. You're listening to Bloomberg Daybreak 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 o six 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, serious XMVI iHeartRadio app, and on Bloomberg dot Com. I'm John Tucker and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg or Daybreak
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Transcript
Good morning. 0:00:03.000 --> 0:00:04.160 I'm John Tucker and. 0:00:04.080 --> 0:00:07.160 I'm Karen Moscow. Here are the stories we're following today. 0:00:07.960 --> 0:00:11.520 Let's begin with politics and another ban for Donald Trump. 0:00:11.960 --> 0:00:15.240 Maine's secretary of state has removed the former president from 0:00:15.240 --> 0:00:18.880 the Republican primary ballot ahead of the twenty twenty four election. 0:00:19.320 --> 0:00:21.959 Details this morning from Bloomberg's Ed Baxter. 0:00:22.239 --> 0:00:25.800 Secretary of State Shedd of Bellows, is using the insurrection 0:00:25.960 --> 0:00:30.600 clause to become the first election official to take unilateral action. 0:00:31.200 --> 0:00:34.440 Bellow says insurrection for his activities in the January sixth 0:00:34.479 --> 0:00:38.519 election overturn riots. The Trump campaign says it will appeal 0:00:38.560 --> 0:00:41.720 in Former Congressman John Katko says it should go to 0:00:41.760 --> 0:00:42.080 the top. 0:00:42.240 --> 0:00:44.440 It's got to go to Supreme Court. Several states and 0:00:44.520 --> 0:00:45.760 now I had this ruined. 0:00:46.120 --> 0:00:48.519 So the Supreme Court's going to set the parameters of. 0:00:48.680 --> 0:00:50.920 What we do with situationally like this going forward. 0:00:51.000 --> 0:00:53.040 So the US Supreme Court should have a number of 0:00:53.080 --> 0:00:55.800 cases now from which to choose on the issue. At 0:00:55.800 --> 0:00:57.120 Baxter Bloomberg. 0:00:56.720 --> 0:00:59.680 Radio, All right, ed, Thanks, And ahead of yesterday's decision, 0:01:00.280 --> 0:01:04.920 presidential campaign blasted main Secretary of State Shenna Bellows, colloring 0:01:04.959 --> 0:01:09.240 her hyperpartisan and a virulent leftist. Trump's campaign says it 0:01:09.280 --> 0:01:12.560 will quickly seek to appeal her decision in Maine State court. 0:01:12.959 --> 0:01:16.959 And turning down to geopolitical news, half of containerships which 0:01:17.040 --> 0:01:20.360 regularly use the Suez Canal are avoiding the route and 0:01:20.560 --> 0:01:23.080 the recent attacks by the houthy militants of the Red Sea. 0:01:23.640 --> 0:01:26.240 Data compiled by Flexport shows two hundred and ninety nine 0:01:26.240 --> 0:01:29.840 container ships have either changed course or planned to That 0:01:29.920 --> 0:01:34.560 accounts for eighteen percent of global trade. Mercury Resources CEO 0:01:34.880 --> 0:01:38.039 Anton Posner says many major firms want to know more 0:01:38.120 --> 0:01:40.400 about the US response to the attacks. 0:01:40.600 --> 0:01:45.000 We're seeing increased freight, increased insurance, a lot of uncertainty, 0:01:45.200 --> 0:01:49.840 and mixed signals from shipowners, container lines, and from governments 0:01:50.000 --> 0:01:53.120 on what's happening. To basically mitigate the risk and the 0:01:53.160 --> 0:01:55.440 threats that are out there, phonesium in the ardent groups. 0:01:55.720 --> 0:01:59.120 Mercury Resources CEO Anton Post nurses some companies are your 0:01:59.160 --> 0:02:02.440 puting off decisions until the new year, as at tax continue. 0:02:02.640 --> 0:02:05.200 The US says it's speaking with shipping firms in an 0:02:05.240 --> 0:02:07.560 attempt to ease the concerns. 0:02:07.440 --> 0:02:10.480 And Johnny also continued to follow developments in Ukraine, Russia 0:02:10.560 --> 0:02:14.600 launching deadly strikes on civilian targets in Ukrainian cities overnight. 0:02:15.000 --> 0:02:17.639 It came days after Russia reported one of its ships 0:02:17.639 --> 0:02:21.360 in Crimea was damaged by Ukrainian missile strike, with Kiev 0:02:21.480 --> 0:02:24.920 stepping up attacks against Moscow's navy, and as we enter 0:02:25.000 --> 0:02:27.760 the new year, Ukraine's pleating with foreign donors to send 0:02:27.840 --> 0:02:30.920 aid a mid uncertainty over its twenty twenty four budget 0:02:31.360 --> 0:02:32.120 and turning. 0:02:31.880 --> 0:02:34.400 Down to the markets and the final day of the 0:02:34.440 --> 0:02:38.079 twenty twenty three rally with the investors anticipating FED rate 0:02:38.120 --> 0:02:39.919 cuts in the new year. The S and P five 0:02:40.000 --> 0:02:42.520 hundred cap yesterday's session just a few points away from 0:02:42.560 --> 0:02:44.960 its all time high. This year, the S and P 0:02:45.040 --> 0:02:48.160 five hundred is up almost twenty five percent, with the 0:02:48.240 --> 0:02:53.120 MSCI All Country World Index rallying about twenty percent. Mona Mahajan, 0:02:53.240 --> 0:02:56.720 the senior investment strategist with Edward Jones, says the rallies 0:02:56.760 --> 0:02:59.639 broadened over the final bonds of twenty twenty three. 0:03:00.120 --> 0:03:02.840 Year really driven by that magnificent seven a large cap 0:03:02.880 --> 0:03:05.440 technology trade, and over the last few weeks we have 0:03:05.560 --> 0:03:08.920 seen a broadening of participation, whether it's value cyclical parts 0:03:08.919 --> 0:03:11.280 of the market, whether it's small and MidCap parts of market, 0:03:11.400 --> 0:03:14.080 whether it's bond markets, all of which have played some 0:03:14.160 --> 0:03:15.520 catch up in recent weeks. 0:03:15.639 --> 0:03:18.320 Mana mahajin with m Where Jones says signs of cooling 0:03:18.440 --> 0:03:22.079 inflation and anticipation of a FED pivot continued to drive 0:03:22.120 --> 0:03:23.359 the rally forward. 0:03:23.560 --> 0:03:26.720 And oversus this morning, John European stocks eking out one 0:03:26.840 --> 0:03:29.320 last gain on the final trading day of the year, 0:03:29.360 --> 0:03:31.960 but it's not all good news specifically in the UK, 0:03:32.160 --> 0:03:35.080 and Bloomberg. Stephen Carroll joins us with more from London. 0:03:35.120 --> 0:03:38.520 Good morning, Stephen, Good morning, Karen and John. Inflation has 0:03:38.560 --> 0:03:41.360 slowed sharply in the UK in recent months, but consumers 0:03:41.440 --> 0:03:45.280 are increasingly worried about the year ahead. A KPMG survey 0:03:45.320 --> 0:03:48.040 shows four and ten people are more concerned about their 0:03:48.040 --> 0:03:51.200 financial security now than they were a year ago, while 0:03:51.280 --> 0:03:54.440 data from Barcleycard indicates households are cutting back on things 0:03:54.480 --> 0:03:57.280 like clothing and eating out. All of that raising fears 0:03:57.320 --> 0:04:00.560 of a consumer that could tip the economy into session. 0:04:01.000 --> 0:04:03.960 When relative bright spot the latest house price data from 0:04:04.040 --> 0:04:07.280 nationwide showing prices fell less than two percent in twenty 0:04:07.360 --> 0:04:11.560 twenty three, defying expectations of a sharper downturn in London, 0:04:11.600 --> 0:04:13.200 Stephen Carol Bloomberg Radio. 0:04:13.240 --> 0:04:15.840 Thanks Steven and In a banner year for stocks, the 0:04:15.920 --> 0:04:19.480 Nasdaq scept for its best year since nineteen ninety nine 0:04:19.680 --> 0:04:23.919 after his seven trillion dollar search artificial intelligence mania driving 0:04:23.920 --> 0:04:27.080 the run for the tech heav engauge from Nvidia to Microsoft, 0:04:27.160 --> 0:04:30.719 the seven largest US tech stocks, the Magnificent Seven, were 0:04:30.760 --> 0:04:34.320 responsible for sixty four percent of the nanstac rally this year. 0:04:34.680 --> 0:04:38.280 The index is up over fifty percent in twenty twenty three. 0:04:38.880 --> 0:04:41.680 And speaking of Nvidia, John the chip making giant is 0:04:41.760 --> 0:04:44.120 selling a hobbled version of a gaming chip to its 0:04:44.200 --> 0:04:48.039 Chinese customers. Bloomberg Tech reporter Ian King says the move 0:04:48.080 --> 0:04:50.880 comes after the US government tightened restrictions on what the 0:04:50.920 --> 0:04:52.040 company can market there. 0:04:52.320 --> 0:04:56.640 Really what matters is what happens in the AI accelerator market, 0:04:56.680 --> 0:04:58.800 and Video said it's going to have new tips for 0:04:58.880 --> 0:05:02.000 that business for China to meet these new rules. We 0:05:02.120 --> 0:05:05.200 don't know when that's coming, orisindeed if that will actually come, 0:05:05.279 --> 0:05:07.840 and that will have a much more concrete impact. 0:05:07.520 --> 0:05:10.440 On revenue and bloombergsing and King says, this version of 0:05:10.520 --> 0:05:13.480 Nvidia's chip for China's market has about ten percent fewer 0:05:13.520 --> 0:05:16.960 processing cores than what it sells in other countries. 0:05:16.720 --> 0:05:19.800 And elon Musk acts formally, Twitter lost its effor in 0:05:19.880 --> 0:05:23.800 court to block at California loss seeking to control toxic posts. 0:05:24.120 --> 0:05:25.839 More from Bloomberg's Charlie Pellett. 0:05:26.040 --> 0:05:29.200 In an eight page ruling of federal judge in Sacramento 0:05:29.520 --> 0:05:33.360 rejected arguments by the company formerly known as Twitter that 0:05:33.440 --> 0:05:38.320 the measure violates the free speech rights of social media platforms. 0:05:38.640 --> 0:05:42.400 The ruling comes after Musk ignited a firestorm in November 0:05:42.440 --> 0:05:47.360 by endorsing anti Semitic posts on his platform. X Corps 0:05:47.400 --> 0:05:53.719 CEOs scrambled to contain the fallout after major advertisers like Sony, Discovery, Apple, 0:05:53.920 --> 0:05:58.159 and CBS stopped or paused spending on the site. In 0:05:58.279 --> 0:06:06.880 New York, Charlie Pellett bloom Radio. 0:06:04.000 --> 0:06:05.240 It is time now for a look at some of 0:06:05.279 --> 0:06:07.400 the other stories making news around the world and for 0:06:07.440 --> 0:06:10.760 that were joined by Bloomberg's Amy Morris, Amy, Good Morning. 0:06:10.760 --> 0:06:14.400 Good morning, Karen. The Biden administration is warning Texas about 0:06:14.400 --> 0:06:18.120 its new immigration law to deal with illegal migration, Bloomberg's 0:06:18.240 --> 0:06:20.279 Nancy Lyons reports in a letter. 0:06:20.440 --> 0:06:23.480 The Justice Department reportedly says it will file a lawsuit 0:06:23.520 --> 0:06:26.159 against Texas if it implements the law that would empower 0:06:26.240 --> 0:06:29.839 state and local law enforcement officials to arrest, jail, and 0:06:29.920 --> 0:06:34.479 prosecute migrants suspected of entering the US ilegally. CBS News 0:06:34.480 --> 0:06:38.320 reports the DOJ says the law would basically criminalize actions 0:06:38.320 --> 0:06:41.240 that are already illegal at the federal level, and would 0:06:41.279 --> 0:06:45.360 undermine relations with Mexico and prevent officials from enforcing federal 0:06:45.360 --> 0:06:48.480 immigration laws. The measure is already being challenged by the 0:06:48.520 --> 0:06:52.640 American Civil Liberties Union that argues the law is unconstitutional. 0:06:53.040 --> 0:06:55.719 In Washington, Nancy lyons Bloomberg Radio. 0:06:55.680 --> 0:06:58.160 More US sailors and marines are being moved into the 0:06:58.200 --> 0:07:02.159 Eastern Mediterranean. CBS for reporting the two amphibious ships carrying 0:07:02.200 --> 0:07:06.240 fifteen hundred sailors and marines, along with jet fighters, helicopters, 0:07:06.240 --> 0:07:09.520 and armored vehicles, have transited the Suez Canal from the 0:07:09.560 --> 0:07:12.880 Red Sea into the Eastern Mediterranean. This gives the US 0:07:13.000 --> 0:07:17.520 military more ability to evacuate Americans from Lebanon if necessary. 0:07:17.960 --> 0:07:21.360 Israeli officials have been increasingly vocal with their threats to 0:07:21.440 --> 0:07:24.920 clear out a buffer zone in southern Lebanon if Hesbella's 0:07:25.080 --> 0:07:29.480 shelling of northern Israel doesn't stop. President Biden meanwhile says 0:07:29.520 --> 0:07:32.440 he's devastated to learn another American was killed by AMAS. 0:07:32.760 --> 0:07:36.640 American Judy Weinstein Hagai, was killed in the October seventh 0:07:36.720 --> 0:07:40.440 Hamas incursion. Biden vowed to do everything possible to bring 0:07:40.480 --> 0:07:44.800 home the remaining hostages, including IDF soldier Aiden Alexander from 0:07:44.880 --> 0:07:48.239 New Jersey. Alexander's mother is calling for her son's return. 0:07:48.320 --> 0:07:53.600 He's my boy, and every day, every minute of the day, 0:07:54.120 --> 0:07:56.280 I'm just I'm terrified. 0:07:56.360 --> 0:08:00.320 There are now six Americans presumed captive in Gaza, and 0:08:00.360 --> 0:08:03.360 the World Health Organization says it's getting harder to deliver 0:08:03.480 --> 0:08:07.360 medical supplies and fuel to Gaza because hungry people keep 0:08:07.440 --> 0:08:11.720 stopping the convoys searching for food. Gaza's health ministry also 0:08:11.800 --> 0:08:14.400 says dozens of people were killed in strikes across the 0:08:14.440 --> 0:08:17.920 Gaza Strip yesterday, days after Israeli forces said they'd be 0:08:18.000 --> 0:08:21.640 expanding operations. The Washington Post reports the director of one 0:08:21.680 --> 0:08:26.120 hospital says Sunday's attack killed at least eighty people. Global 0:08:26.120 --> 0:08:28.120 News twenty four hours a day and whenever you want 0:08:28.160 --> 0:08:30.800 it with Bloomberg News. Now I'm Amy Morris, and this 0:08:30.840 --> 0:08:31.880 is Bloomberg Karen. 0:08:32.080 --> 0:08:34.400 All right, Amy, thanks. We bring you news throughout the 0:08:34.480 --> 0:08:37.200 day right here on Bloomberg Radio. But now, as Amy's said, 0:08:37.240 --> 0:08:39.360 you can get the latest news on demand, and that 0:08:39.400 --> 0:08:43.400 means whenever you wanted, just subscribe to Bloomberg News Now 0:08:43.440 --> 0:08:45.240 to get the latest headlines right at the click of 0:08:45.280 --> 0:08:48.520 a button. Get informed on your schedule. You can listen 0:08:48.559 --> 0:08:52.160 and subscribe to Bloomberg News Now on the Bloomberg Business app, 0:08:52.320 --> 0:08:56.040 Bloomberg dot com plus apples, Spotify, and anywhere else you 0:08:56.080 --> 0:09:03.920 get your podcasts. Time now for the Bloomberg Sports Update. 0:09:03.960 --> 0:09:06.960 Here's Dan Schwartzman. Dan, good morning, Good morning Karen. 0:09:07.000 --> 0:09:09.199 The Cleveland Browns clinched just their second trip to the 0:09:09.200 --> 0:09:12.360 playoffs since two thousand and two with a dominating performance 0:09:12.360 --> 0:09:13.480 against the New York Jets. 0:09:13.720 --> 0:09:16.559 Joe Flacco got hit. He rolls out of the head, 0:09:16.640 --> 0:09:18.360 he runs it, then he crows it. 0:09:18.320 --> 0:09:21.320 And fort caught it head, the thirty head, the twenty head, 0:09:21.320 --> 0:09:22.440 the fifteen. 0:09:22.160 --> 0:09:25.320 Head, the ten head of five past no good head. 0:09:25.360 --> 0:09:26.200 He vaulted for. 0:09:27.000 --> 0:09:30.760 Tag jing board Hot you. 0:09:32.640 --> 0:09:35.439 That's courtesy of ESPN eight to fifty Radio in Cleveland, 0:09:35.679 --> 0:09:37.960 behind three hundred and nine passing yards and three touchdowns 0:09:37.960 --> 0:09:40.600 from Joe Flacco. The Browns improved eleven and five on 0:09:40.640 --> 0:09:42.839 the season with a thirty seven to twenty win over 0:09:42.880 --> 0:09:46.360 the Jets. Jerome Ford catching two touchdown passes while David 0:09:46.400 --> 0:09:48.280 and Joe who gains one hundred and thirty four yards 0:09:48.280 --> 0:09:50.800 on six catches. Jets fall to six and ten on 0:09:50.840 --> 0:09:54.400 the season. Week seventeen of the NFL season continuing Saturday 0:09:54.400 --> 0:09:56.719 with the Marquee matchup in Dallas as the ten and 0:09:56.800 --> 0:09:59.800 five Cowboys are hosting the eleven and four Detroit Lions. 0:10:00.160 --> 0:10:02.400 Speaking of Detroit, the Pistons were oh so close to 0:10:02.440 --> 0:10:04.880 ending their twenty seven game losing streak as they led 0:10:04.920 --> 0:10:07.559 the Boston Celtics by nineteen points at halftime and at 0:10:07.559 --> 0:10:10.280 one point by twenty one points before collapsing and losing 0:10:10.320 --> 0:10:12.800 in overtime one twenty eight to one twenty two. By 0:10:12.880 --> 0:10:15.679 dropping their twenty eighth consecutive game, the Pistons time the 0:10:15.679 --> 0:10:18.240 Philadelphia seventy six ers for the longest losing streak of 0:10:18.280 --> 0:10:20.719 all time, which Philly accomplished between the end of the 0:10:20.720 --> 0:10:23.880 twenty fourteen twenty fifteen season and the start of the 0:10:23.920 --> 0:10:27.520 next year. Elsewhere, Nikola Jokich turning in a perfect triple double, 0:10:27.760 --> 0:10:29.960 not missing from the field or the free throw line 0:10:30.000 --> 0:10:31.839 in the Nuggets one forty two to one to five, 0:10:31.880 --> 0:10:34.800 winner of the Grizzlies. That's your Bloomberg Sports update on 0:10:35.000 --> 0:10:36.160 the ent shportsman. 0:10:38.200 --> 0:10:41.200 From coast to coast, from New York to San Francisco, 0:10:41.520 --> 0:10:46.600 Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business 0:10:46.600 --> 0:10:48.199 Appen Bloomberg dot Com. 0:10:48.400 --> 0:10:52.800 This is Bloomberg Daybreak and good morning. I'm John Tuckery. 0:10:52.840 --> 0:10:55.640 You did hear. Among our top stories mains Secretary of 0:10:55.679 --> 0:10:58.360 State rule that Donald Trump cannot run in the state's 0:10:58.440 --> 0:11:02.920 Republican primaries, citing his efforts to overturn the twenty twenty 0:11:02.960 --> 0:11:05.640 election results. Let's take a deeper dive into the story 0:11:05.679 --> 0:11:09.200 this morning. We're joined now by Terry Haynes of Pangea Policy. 0:11:09.520 --> 0:11:13.240 Always a pleasure to speak to you, Terry. Certainly it's 0:11:13.559 --> 0:11:16.160 not going to be the last word, and it sets 0:11:16.200 --> 0:11:20.400 up for what one observer calls an epic constitutional showdown. 0:11:20.840 --> 0:11:22.040 What is your view? 0:11:23.760 --> 0:11:27.840 My view, firstly is discount anytime anybody says things like epic. 0:11:28.640 --> 0:11:32.319 But secondly, John, I think what you have to understand 0:11:32.440 --> 0:11:36.120 is what listeners have to understand is a little bit 0:11:36.120 --> 0:11:39.920 of perspective here Colorado. This Colorado Supreme Court, by a 0:11:39.960 --> 0:11:44.280 four to three decision, made its determination, but its Secretary 0:11:44.280 --> 0:11:46.040 of State has already said that Trump's going to be 0:11:46.080 --> 0:11:48.640 on the primary ballot, you know, abbs in some sort 0:11:48.640 --> 0:11:50.360 of additional action. 0:11:50.600 --> 0:11:51.520 So if that. 0:11:51.480 --> 0:11:55.440 Doesn't confuse things enough. Secondly, what you've got from the 0:11:55.480 --> 0:12:00.360 main Secretary of State yesterday is kind of an executative 0:12:00.920 --> 0:12:04.800 version of what the Colorado Supreme Court said, deciding on 0:12:04.840 --> 0:12:10.880 our own that trum Trump was an insurrectionist, but also 0:12:11.000 --> 0:12:15.320 understanding that the thing is going to be appealed. Net 0:12:15.360 --> 0:12:19.360 I wouldn't look for any of these things to stick. 0:12:20.360 --> 0:12:22.560 The Supreme Court of the United States is almost certainly 0:12:23.520 --> 0:12:27.840 not going to allow states to decide how to interpret 0:12:27.840 --> 0:12:33.440 the fourteenth Amendment of the Constitution, or alone denied candidate 0:12:33.440 --> 0:12:37.439 to federal rights under the Fifth Amendment. So, you know, 0:12:37.520 --> 0:12:41.679 generally speaking, I think these things are overblown. And the 0:12:41.760 --> 0:12:43.640 last thing I will say is there's a lot of 0:12:43.679 --> 0:12:47.120 state and federal courts that have decided in ways opposite 0:12:47.120 --> 0:12:50.360 of the Colorado and main courts. People need to remember 0:12:50.400 --> 0:12:50.800 that too. 0:12:51.360 --> 0:12:54.680 Donald Trump initially ran as a disruptor, and now he 0:12:54.760 --> 0:12:59.040 seems to be running as a victim. Does this all 0:12:59.080 --> 0:13:02.080 embolden him or does it give rise to some something 0:13:02.080 --> 0:13:03.840 along the lines of Trump fatigue. 0:13:05.559 --> 0:13:07.840 You know, that's a very good question, and I think 0:13:07.920 --> 0:13:11.120 the answer probably is some of both. The conventional wisdom 0:13:11.200 --> 0:13:14.160 right now is that this emboldens and empowers him with 0:13:14.240 --> 0:13:16.839 the electorate. You can certainly see how that might be 0:13:16.960 --> 0:13:21.920 so instinctively. But at the same time, it also I 0:13:21.960 --> 0:13:26.840 think adds to the appeal of not Trump Republican candidates 0:13:26.880 --> 0:13:29.959 who say, look, if you like the conservative policies and 0:13:30.040 --> 0:13:33.240 have them during Trump's administration, we can have those back, 0:13:33.480 --> 0:13:36.280 and we can have them without the circus. We're going 0:13:36.360 --> 0:13:39.680 to find out which of those is true, or potentially 0:13:39.720 --> 0:13:42.280 whether both of them are true, starting in about three 0:13:42.280 --> 0:13:45.760 weeks in Iowa, and so you know, we will see. 0:13:45.840 --> 0:13:46.360 But the. 0:13:47.800 --> 0:13:49.640 Attains me not to make a call on that, but 0:13:49.679 --> 0:13:51.400 I mean, truly we will see. I'm not going to 0:13:51.400 --> 0:13:55.800 be the expert on the feelings of the Iowa electorate, 0:13:56.679 --> 0:14:01.760 but the bottom line is is that I underperformed in 0:14:02.160 --> 0:14:05.760 the Iowa caucuses is going to give rise to a 0:14:06.000 --> 0:14:09.360 narrative that Trump, it might not be as strong, and 0:14:09.440 --> 0:14:12.719 the challengers are getting stronger, and that will reinvigorate the 0:14:12.840 --> 0:14:14.040 race at it to some extent. 0:14:14.280 --> 0:14:17.560 All right, speaking of challengers, Nikki Haley also making news 0:14:17.600 --> 0:14:20.840 with what she says or doesn't say, are the causes 0:14:20.880 --> 0:14:24.480 of the Civil War, namely slavery. How does that play 0:14:24.520 --> 0:14:26.240 out in the election cycle. 0:14:27.760 --> 0:14:30.520 I think that's a blip, honestly, John. It's used by 0:14:30.680 --> 0:14:35.320 and I'm not meaning to to minimize, No, I mean 0:14:35.320 --> 0:14:37.520 to minimize what she said or how she said it. 0:14:37.800 --> 0:14:41.320 But I think it's a blip. You know, she did 0:14:41.360 --> 0:14:44.040 what she needed to do, which was she was trying 0:14:44.080 --> 0:14:47.560 to make a trying to use a kind of states 0:14:47.640 --> 0:14:50.760 rights versus federal point about the war to make a 0:14:50.800 --> 0:14:56.960 case about the tensions that exist today. It was ham fisted, 0:14:56.960 --> 0:14:59.160 and she took it back, she clarified, and I think 0:14:59.200 --> 0:15:00.840 that that goes away pretty quickly. 0:15:00.920 --> 0:15:03.480 Honestly, this is kind of out of left field. Is 0:15:03.560 --> 0:15:06.360 Joe Biden going to stick with Vice President Kamala Harris 0:15:06.360 --> 0:15:07.400 as his running mate? 0:15:08.480 --> 0:15:08.640 Oh? 0:15:08.720 --> 0:15:09.120 I think so. 0:15:09.280 --> 0:15:09.520 Yeah. 0:15:09.600 --> 0:15:18.280 The Biden sees Harris whole including faults, but he would 0:15:18.320 --> 0:15:21.520 have a devil of a time taking taking her off 0:15:21.560 --> 0:15:23.920 the ticket at this point, and for that reason alone, 0:15:23.920 --> 0:15:24.800 I think he won't. 0:15:24.880 --> 0:15:27.400 Give us your view of how the election is all 0:15:27.480 --> 0:15:28.000 playing out. 0:15:30.560 --> 0:15:35.520 I will refer listeners right back to a very interesting 0:15:35.560 --> 0:15:41.760 Bloomberg story on the terminal about a Quinnipiac poll that 0:15:41.880 --> 0:15:45.640 was released on Wednesday that shows Biden and Trump basically 0:15:45.760 --> 0:15:47.920 the dead heat and the popular poll, but if you 0:15:47.960 --> 0:15:51.560 add Bob Kennedy to it, it becomes a thirty eight 0:15:51.640 --> 0:15:56.960 Biden thirty six Trump Kennedy twenty two race. And I 0:15:57.040 --> 0:15:59.680 point that out only to say that I've been saying 0:15:59.680 --> 0:16:02.600 for some time that third parties are going to be 0:16:02.640 --> 0:16:06.800 more invigorated and more important to this presidential race. 0:16:08.400 --> 0:16:11.400 You're listening to Bloomberg Daybreak today, your morning brief on 0:16:11.480 --> 0:16:14.920 the stories making news from Wall Street to Washington and beyond. 0:16:15.160 --> 0:16:17.920 Look for us on your podcast feed at six am 0:16:18.000 --> 0:16:21.640 Eastern each morning, on Apple, Spotify, and anywhere else you 0:16:21.720 --> 0:16:22.800 get your podcasts. 0:16:23.240 --> 0:16:25.640 You can also listen live each morning starting at five 0:16:25.680 --> 0:16:28.160 am Wall Street time on Bloomberg eleven three to zero 0:16:28.160 --> 0:16:31.040 in New York, Bloomberg ninety nine to one in Washington, 0:16:31.280 --> 0:16:34.240 Bloomberg one o six one in Boston, and Bloomberg nine 0:16:34.320 --> 0:16:35.640 sixty in San Francisco. 0:16:36.000 --> 0:16:39.160 Our flagship New York station is also available on your 0:16:39.240 --> 0:16:44.840 Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. 0:16:45.000 --> 0:16:48.000 Listen coast to coast on the Bloomberg Business app, serious 0:16:48.200 --> 0:16:51.800 XMVI iHeartRadio app, and on Bloomberg dot Com. 0:16:51.840 --> 0:16:55.320 I'm John Tucker and I'm Karen Moscow. Join us again 0:16:55.360 --> 0:16:58.120 tomorrow morning for all the news you need to start 0:16:58.160 --> 0:17:00.760 your day right here on Bloomberg or Daybreak