US and Ukraine Reach Minerals Deal; Wall Street Braces for Nvidia Earnings

Bloomberg Audio Studios, Podcasts, radio News. 0:00:10.240 --> 0:00:10.799 Good morning. 0:00:10.840 --> 0:00:13.680 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:13.720 --> 0:00:15.160 stories we're following today. 0:00:15.320 --> 0:00:17.400 Karen, we begin with the latest on efforts to end 0:00:17.440 --> 0:00:20.159 the war in Ukraine. The country has agreed on a 0:00:20.200 --> 0:00:23.720 deal with the US to jointly develop its natural resources. 0:00:24.079 --> 0:00:27.560 Sources say Ukraine's cabinet is expected to recommend today that 0:00:27.600 --> 0:00:30.520 the deal be signed in President Vladimir Zelenski's planning to 0:00:30.520 --> 0:00:33.360 travel to the US on Friday to seal the agreement. 0:00:33.640 --> 0:00:36.280 Here's President Trump speaking from the Oval Office. 0:00:36.640 --> 0:00:38.120 I hear that he's coming on Friday. 0:00:38.280 --> 0:00:40.520 Certainly, it's okay with me if we'd like to, and 0:00:40.800 --> 0:00:42.680 he would like to sign it together with me, and 0:00:42.720 --> 0:00:44.040 I understand that's a big deal. 0:00:44.360 --> 0:00:47.200 Sources say the deal came together after the US dropped 0:00:47.240 --> 0:00:50.200 a demand for Kiv to pay five hundred billion dollars 0:00:50.240 --> 0:00:52.720 from resource extraction to a fund as a form of 0:00:52.760 --> 0:00:56.440 aid repayment. This framework agreement would create a joint US 0:00:56.520 --> 0:00:59.600 Ukraine fund to manage future natural resource revenues. 0:01:00.040 --> 0:01:02.720 Well, Nathan and President Trump's plans to cut taxes have 0:01:02.800 --> 0:01:05.959 taken a big step forward on Capitol Hill, House Republicans 0:01:05.959 --> 0:01:09.040 have passed a budget blueprint that would make deep cuts 0:01:09.200 --> 0:01:12.440 to safety net programs like Medicaid to pave the way 0:01:12.640 --> 0:01:15.400 for four and a half trillion dollars in tax cuts. 0:01:15.600 --> 0:01:18.000 It's a victory for House Speaker Mike Johnson. 0:01:18.240 --> 0:01:20.520 We are going to deliver the American First Agenda. We're 0:01:20.520 --> 0:01:22.560 going to deliver all of it, not just parts of it, 0:01:22.840 --> 0:01:24.480 and this was the first step in that process. 0:01:24.880 --> 0:01:27.760 House Speaker Mike Johnson's plan was endowed for much of 0:01:27.800 --> 0:01:31.040 the day. He initially canceled a vote, with four Republicans 0:01:31.040 --> 0:01:34.440 holding out, but after phone calls from President Trump, just 0:01:34.520 --> 0:01:38.640 one Republican, Thomas Massey, joined with Democrats in voting against it. 0:01:38.880 --> 0:01:41.080 The bill now heads to the Senate, where more changes 0:01:41.120 --> 0:01:43.160 could be made, and that could lead to more objections 0:01:43.200 --> 0:01:44.880 from House Republicans Well Karen. 0:01:44.920 --> 0:01:47.080 President Trump could be opening the door to a new 0:01:47.120 --> 0:01:50.480 tariff on medals. President has signed an executive action for 0:01:50.520 --> 0:01:54.000 the Commerce Department to explore a levy on copper. Senior 0:01:54.040 --> 0:01:57.200 Administration officials say it's a national security issue. The dumping 0:01:57.240 --> 0:02:00.920 and overcapacity have left US weapons systems and other critical 0:02:00.920 --> 0:02:04.480 products dependent on foreign copper. The officials say it's too 0:02:04.600 --> 0:02:07.960 soon to discuss a potential rate for the tariffs, Nathan. 0:02:08.000 --> 0:02:10.880 President Trump is also making a move on immigration. The 0:02:10.960 --> 0:02:13.560 President says he will offer residency and a path to 0:02:13.720 --> 0:02:16.720 citizenship to people who pay at least five million dollars 0:02:16.800 --> 0:02:18.040 on projects in the US. 0:02:18.360 --> 0:02:19.240 He says the plan. 0:02:19.080 --> 0:02:22.320 Will launch in two weeks and won't need congressional approval. 0:02:22.680 --> 0:02:26.280 We're going to be selling a gold card. 0:02:26.840 --> 0:02:28.720 You have a green card. This is a gold card. 0:02:29.000 --> 0:02:31.000 We're going to be putting a price on that card 0:02:31.040 --> 0:02:33.480 of about five million dollars, and that's going to give 0:02:33.480 --> 0:02:36.160 you green card privileges. Plus, it's going to be a 0:02:36.240 --> 0:02:40.320 route to citizenship, and wealthy people will be coming into 0:02:40.320 --> 0:02:41.960 our country by buying this card. 0:02:41.960 --> 0:02:42.760 They'll be wealthy. 0:02:43.320 --> 0:02:46.400 Commerce Secretary Howard Ludenek says the move could replace the 0:02:46.480 --> 0:02:50.560 existing EB five visa program, which allows immigrants to acquire 0:02:50.600 --> 0:02:53.880 Green cards by investing a certain amount in a US business. 0:02:54.000 --> 0:02:56.480 Thank Karen, President Trump's plan to take over and develop 0:02:56.600 --> 0:02:59.799 Gaza maybe taking shape. Trump's special Middle East en voice 0:02:59.800 --> 0:03:02.560 Tam Wickcoff says they're planning a summit with real estate 0:03:02.600 --> 0:03:05.880 developers and planners in the Middle East. Wickcoff isn't saying 0:03:05.919 --> 0:03:09.000 where this gathering would happen or when, but he says 0:03:09.040 --> 0:03:11.800 many countries have contacted the US about being part of 0:03:11.840 --> 0:03:16.079 a permanent solution for Gaza's residence. Witcoff's comments come as 0:03:16.120 --> 0:03:19.280 Israel tries to extend a ceasefire with Hamas that's set 0:03:19.320 --> 0:03:20.639 to expire this weekend. 0:03:21.360 --> 0:03:24.120 Well, turning to the markets now, Nathan and skepticism about 0:03:24.120 --> 0:03:27.760 potential tariffs and federal cost cutting efforts maybe taking a 0:03:27.760 --> 0:03:30.080 toll on investors. The S and P five hundred has 0:03:30.120 --> 0:03:33.079 dropped more than three percent over the past four trading days, 0:03:33.320 --> 0:03:36.240 and the selloff is affecting Elon Musk. His net worth 0:03:36.280 --> 0:03:40.000 fell by twenty two point two billion dollars yesterday. That's 0:03:40.000 --> 0:03:43.320 his fourth largest one day loss. Tesla makes up more 0:03:43.360 --> 0:03:46.800 than half of Musk's fortune. That stock dropped more than 0:03:46.920 --> 0:03:50.720 eight percent. Tesla sales in Europe plunge nearly in half. 0:03:50.760 --> 0:03:54.440 In January. Elon Musks favorability there has stumbled as he's 0:03:54.520 --> 0:03:56.720 inserted himself into Europe's politics. 0:03:56.880 --> 0:03:58.880 Well, Karen, the direction of markets for the rest of 0:03:58.880 --> 0:04:02.640 this week will be greatly influenced by Nvidia the AI 0:04:02.800 --> 0:04:07.640 Darling reports earnings this afternoon, and Bloomberg's John Tucker is 0:04:07.640 --> 0:04:10.560 here with a preview. This is hotly anticipated. 0:04:10.600 --> 0:04:13.400 Johnny, Yeah, and Nathan Chip demand China and Donald Trump. 0:04:13.440 --> 0:04:15.840 They're going to be on investors' minds. As in Vidia 0:04:15.920 --> 0:04:18.880 reports after the close. The results come just over a 0:04:19.000 --> 0:04:22.560 month after the launch of Deep seeks cheaper AI alternative, 0:04:22.960 --> 0:04:25.320 and as you know, that's secured investors into thinking there 0:04:25.360 --> 0:04:28.320 may be a dramatic drop off in demand for equipment 0:04:28.640 --> 0:04:31.839 like in Vidia's chips at US restrictions on selling to 0:04:31.960 --> 0:04:34.760 China may be a cloud. That's according to Dan Ives 0:04:34.800 --> 0:04:36.599 at Wedbush Securities. 0:04:36.520 --> 0:04:38.560 I think some of this stuff does go to the background, 0:04:38.600 --> 0:04:39.719 but no doubt it has. 0:04:39.640 --> 0:04:42.080 Been white knuckles to start the year. 0:04:42.600 --> 0:04:44.440 You're just giving you don't know what's going to come 0:04:44.440 --> 0:04:46.240 out from a regulatory perspective. 0:04:46.279 --> 0:04:49.200 In terms of this U as China called tech warm. 0:04:49.120 --> 0:04:52.480 The investors will want forward guidance related to Invidia's next 0:04:52.480 --> 0:04:55.960 generation black Whale chip. Back in the fall, CEO Jensen 0:04:56.000 --> 0:04:59.240 Wang said demand was insane. The Bloomberg consensus call for 0:04:59.320 --> 0:05:02.960 revenue three eight point twenty five billion dollars pre marketing 0:05:03.080 --> 0:05:05.719 video shares up two and a half percent in new 0:05:05.800 --> 0:05:07.400 York on John Tucker Bloomberg Radio. 0:05:07.800 --> 0:05:10.000 Right, John, thank you well. Nvidia, of course, is one 0:05:10.000 --> 0:05:12.719 of the so called Magnificent Seven, and it has been 0:05:12.760 --> 0:05:14.919 anything but a magnificent start of the year for the 0:05:14.960 --> 0:05:17.000 group that's powered most of the S and P five 0:05:17.080 --> 0:05:20.720 hundreds gains over the past two years. The Bloomberg Magnificent 0:05:20.839 --> 0:05:24.039 seven Index has fallen almost ten percent from a December high, 0:05:24.400 --> 0:05:27.680 erasing about one point four trillion dollars in value. The 0:05:27.760 --> 0:05:30.200 mag seven Index is an equal a weighted gauge of 0:05:30.279 --> 0:05:34.600 Nvidia along with Apple, Alphabet, Amazon, Meta, Microsoft in Tesla. 0:05:34.960 --> 0:05:38.719 People have full coverage and analysis of Nvidia's earnings on 0:05:38.760 --> 0:05:42.200 Bloomberg Radio and the Bloomberg Podcast page on YouTube. 0:05:42.320 --> 0:05:42.599 Well. 0:05:42.640 --> 0:05:46.560 Speaking of the Magnificent Seven, Karen one of those Apple 0:05:47.080 --> 0:05:51.040 may be getting an iPhone band lifted. In Indonesia, Apple 0:05:51.120 --> 0:05:54.080 has signed an investment agreement paving the way for sales 0:05:54.120 --> 0:05:58.080 of the iPhone sixteen to resume in Southeast Asia's largest nation. 0:05:58.640 --> 0:06:01.240 The pact is set to end a five month tussle 0:06:01.320 --> 0:06:04.560 that began in October after Indonesia refused to issue a 0:06:04.640 --> 0:06:07.760 sales permit to Apple, citing failure to comply with domestic 0:06:07.839 --> 0:06:11.880 manufacturing requirements for smartphones and tablets at. 0:06:11.760 --> 0:06:14.560 Bank of America to the list of Wall Street firms 0:06:14.600 --> 0:06:20.000 scrappingdi plans, Nathan, the bank is rolling back workplace representation 0:06:20.200 --> 0:06:24.520 targets and replacing references to diversity, citing legal changes under 0:06:24.560 --> 0:06:27.360 the Trump administration. In an interview you heard right here 0:06:27.360 --> 0:06:30.480 on Bloomberg Radio, Bank of America CEO Brian Monahan told 0:06:30.560 --> 0:06:33.960 David Rubinstein about the company's recent inclusion efforts. 0:06:34.400 --> 0:06:36.560 We have a very diverse company in terms of representation 0:06:36.600 --> 0:06:39.840 from all economic stratus, all races, au ethnicities. Once they 0:06:39.880 --> 0:06:43.080 get in, the opportunity is there for a lifetime. We 0:06:43.200 --> 0:06:46.040 equal pay for equal work, the ability to promote, we train, 0:06:46.200 --> 0:06:48.160 we do all the work, and so the idea is 0:06:48.240 --> 0:06:49.040 that's an opportunity. 0:06:49.600 --> 0:06:52.720 Bank of America CEO Brian Monahan says the bank will 0:06:52.760 --> 0:06:56.680 no longer have aspirational goals for diversity and inclusion and 0:06:56.720 --> 0:07:00.719 will replace references to diversity with talent and opportunity. In 0:07:00.760 --> 0:07:01.840 its annual report. 0:07:02.080 --> 0:07:03.960 Weally, Karen, we want to let you know about something new. 0:07:04.000 --> 0:07:08.880 For Bloomberg dot Com subscribers get the Going Private newsletter. 0:07:09.120 --> 0:07:12.480 It's delivered to your inbox Wednesdays and Fridays, bringing you 0:07:12.560 --> 0:07:15.720 coverage of private markets and the forces moving capital away 0:07:15.800 --> 0:07:19.120 from the public eye. Subscribe to the Going Private newsletter 0:07:19.280 --> 0:07:22.679 now at bloomberg dot com slash Going Private. 0:07:26.160 --> 0:07:27.360 Time Now for a look at some of the other 0:07:27.480 --> 0:07:29.800 stories making news in New York and around the world. 0:07:29.800 --> 0:07:31.920 And for that we're joined by Bloomberg's Michael Barr. 0:07:31.960 --> 0:07:34.840 Michael, Good morning, Good morning, Karen. New Jersey Governor Phil 0:07:34.920 --> 0:07:38.080 Murphy has unveiled a fifty eight point one billion dollar 0:07:38.200 --> 0:07:41.520 budget proposal for the fiscal years starting July first. It 0:07:41.640 --> 0:07:44.960 caps new discretionary spending and relies on twenty seven point 0:07:45.080 --> 0:07:49.600 nine billion dollars in federal funds. The proposal includes cunts 0:07:49.640 --> 0:07:54.200 to various departments such as agriculture and environmental Protection. Murphy, 0:07:54.360 --> 0:07:57.320 in his address at the state capitol in Trenton, also 0:07:57.440 --> 0:08:01.000 says working families have been pummeled by ryan prices, with 0:08:01.120 --> 0:08:03.760 the noise of chaos louder than ever in Washington. 0:08:04.040 --> 0:08:07.120 We need to keep fighting with every fiber of our 0:08:07.200 --> 0:08:08.080 being for. 0:08:08.120 --> 0:08:14.200 Our children, workers, parents, senior citizens, and every New Jersey 0:08:14.240 --> 0:08:16.080 and who was struggling to get by. 0:08:16.440 --> 0:08:20.080 The NTSB and FAA are investigating a close call at 0:08:20.160 --> 0:08:24.239 Chicago's Midway Airport between a Southwest Airlines Boeing seven thirty 0:08:24.280 --> 0:08:27.560 seven and a business jet. As the Southwest flight from 0:08:27.560 --> 0:08:31.040 Omaha was touching down, the business jet crossed the runway 0:08:31.120 --> 0:08:33.920 in front of it. The Southwest pilots, right as the 0:08:33.960 --> 0:08:36.960 wheels were about to touch the runway, push the throttles 0:08:37.000 --> 0:08:39.680 up and took off. Air Traffic controllers could be heard 0:08:39.720 --> 0:08:42.040 telling the business jet not to cross the runway, but 0:08:42.080 --> 0:08:46.160 it did anyway, retire Marine Fighter pilot Colonel Stephen Ganiard. 0:08:46.400 --> 0:08:49.600 If the Southwest crew hadn't been so alert and seeing 0:08:49.679 --> 0:08:53.120 this aircraft crossing the runway, this could have been a terrible, 0:08:53.240 --> 0:08:54.160 terrible tragedy. 0:08:54.440 --> 0:08:57.400 The White House says its officials will determine which news 0:08:57.400 --> 0:09:01.920 outlets cover President Donald Trump Hose Press Secretary Caroline. 0:09:01.559 --> 0:09:05.280 Lovin Legacy outlets who have participated in the press pool 0:09:05.320 --> 0:09:08.560 for decades will still be allowed to join, fear not, 0:09:09.120 --> 0:09:11.959 but we will also be offering the privilege to well 0:09:12.000 --> 0:09:14.960 deserving outlets who have never been allowed to share in 0:09:15.040 --> 0:09:17.040 this awesome responsibility. 0:09:17.200 --> 0:09:19.800 Levitt says the move would restore access back to the 0:09:19.840 --> 0:09:23.240 American people who elected Trump. Global News twenty four hours 0:09:23.240 --> 0:09:25.800 a day and whenever you want it with Bloomberg News Now, 0:09:26.040 --> 0:09:27.959 Michael Barn, This is Bloomberg Carron. 0:09:28.120 --> 0:09:34.520 All right, Michael Barn, thank you. Time now for the 0:09:34.520 --> 0:09:37.680 Bloomberg Sports Update, brought to you by Trying State OUTI. 0:09:37.760 --> 0:09:39.400 Here's John Stanshawer, John. 0:09:39.240 --> 0:09:41.440 Good morning, Good morning. Cans for an uphill climb for 0:09:41.480 --> 0:09:44.200 the Rangers trying to make the playoffs despite that horrendous 0:09:44.280 --> 0:09:46.800 stretch when they lost fifteen out of nineteen games the 0:09:46.880 --> 0:09:49.360 Ubs Arena. They meet the Islanders five to one. Johnny 0:09:49.360 --> 0:09:51.680 Presents given a pair of first period goals, even Matt 0:09:51.720 --> 0:09:54.560 Rimpy scored, and the Rangers are now two points behind 0:09:54.600 --> 0:09:57.160 Columbus to the last playoff spot in the East. Washington 0:09:57.559 --> 0:10:00.480 lost in Calgary three to one, but Alexavetchkin's scored the 0:10:00.520 --> 0:10:03.040 Caps goal, his thirtieth of the season. He needs twelve 0:10:03.080 --> 0:10:06.320 more goals for Wayne Gretzky's career goal scoring record. It 0:10:06.360 --> 0:10:09.760 was Boston against Toronto in the NHL and NBA. 0:10:09.480 --> 0:10:10.200 A TV Garden. 0:10:10.240 --> 0:10:12.000 The Bruins blew a three to nothing lead, lost to 0:10:12.040 --> 0:10:14.280 the Maple Leaves five to four, and overtime. In Toronto, 0:10:14.720 --> 0:10:17.040 Celtics beat the Raptors one eleven one oh one in 0:10:17.200 --> 0:10:20.040 LA the Lakers beat Dallas one oh seven ninety nine. 0:10:20.120 --> 0:10:23.319 Luca Donsin's faced his former team had a triple double. 0:10:23.600 --> 0:10:26.760 Knicks come off that lost weekend, those losses in Cleveland 0:10:26.800 --> 0:10:29.040 and Boston. They're at the Garden tonight to play Philadelphia 0:10:29.080 --> 0:10:31.960 Saint John's. With a win tonight at Butler clinches at 0:10:32.040 --> 0:10:34.559 least a tie for the Big East regular season title. 0:10:35.000 --> 0:10:38.079 What didn't Diana Tarassi do in her career? Three NC 0:10:38.200 --> 0:10:41.400 double championships at Yukon led Phoenix to three titles in 0:10:41.440 --> 0:10:43.400 the WNBA, where she scored the most points in the 0:10:43.440 --> 0:10:48.439 league history, six Olympic gold medals. Tarasse retiring at age 0:10:48.480 --> 0:10:52.240 forty two. The NFL scouting combine underway in Indianapolis. Giants 0:10:52.280 --> 0:10:55.600 GM Joe Sheen looking for a quarterback, either a rookie 0:10:55.760 --> 0:10:57.360 or a veteran or maybe both. 0:10:57.640 --> 0:10:58.880 You know, yeah, we don't know what's going to happen 0:10:58.920 --> 0:11:00.719 in the draft. We don't know who's going to be there. 0:11:01.640 --> 0:11:03.199 You know, when we get around these kids, they may 0:11:03.320 --> 0:11:05.920 or may not be a fit for us. So you know, 0:11:05.920 --> 0:11:08.400 we're gonna have to dress the position somewhere. And even 0:11:08.440 --> 0:11:09.839 if you get a young quarterback you'd like to have 0:11:09.880 --> 0:11:11.400 a vet, you know, in the room with them to 0:11:11.400 --> 0:11:13.000 show them the ropes and how to be a pro. So, 0:11:13.840 --> 0:11:15.880 you know, we're looking at all different avenues. It's Hey, 0:11:15.920 --> 0:11:17.600 is this guy gonna be really good for a young quarterback? 0:11:17.679 --> 0:11:18.559 Or is this guy a starter? 0:11:18.800 --> 0:11:21.920 Cleveland GM Andrew Berry says the Browns are not going 0:11:21.960 --> 0:11:24.719 to trade Miles Garrett, who's tired of losing once out. 0:11:24.800 --> 0:11:28.000 Kansas City GM. Brett Beach wait in on Travis Kelsey 0:11:28.160 --> 0:11:31.800 said he believes Kelsey will not retire. John Stasha, We're 0:11:31.800 --> 0:11:32.920 Bloomberg Sports. 0:11:32.679 --> 0:11:33.640 Karen Nathan. 0:11:35.559 --> 0:11:39.840 Coast to coast on Bloomberg Radio, nationwide on Sirius XM. 0:11:39.840 --> 0:11:42.680 And around the world on Bloomberg dot Com and the 0:11:42.720 --> 0:11:43.959 Bloomberg Business app. 0:11:44.240 --> 0:11:46.480 This is Bloomberg Daybreak. Good morning. 0:11:46.480 --> 0:11:49.640 I'm Nathan Hager. Ukraine may have a deal to develop 0:11:49.720 --> 0:11:52.440 its resources jointly with the US and move toward a 0:11:52.520 --> 0:11:56.280 ceasefire with Russia. President Vladimir Zelenski's expected to head to 0:11:56.280 --> 0:11:59.000 the White House on Friday to seal the agreement. It 0:11:59.120 --> 0:12:01.920 backs off and an initial demand from the US for 0:12:02.000 --> 0:12:04.720 a half trillion dollars as a form of repayment for 0:12:04.800 --> 0:12:08.000 aid but President Trump says he is getting what he wants. 0:12:08.480 --> 0:12:11.160 It could be a trillion dollar deal, it could be whatever. 0:12:10.880 --> 0:12:13.679 But it's rareer and other things. 0:12:14.960 --> 0:12:18.079 And look, we're spending hundreds of billions of dollars on 0:12:18.720 --> 0:12:22.880 Ukraine and Russia fighting a war that should have never 0:12:22.920 --> 0:12:23.680 ever happened. 0:12:24.040 --> 0:12:26.800 President Trump, speaking from the Oval Office, has heard on 0:12:26.840 --> 0:12:29.760 Bloomberg Radio for more. We're joined by Bloomberg News Senior 0:12:29.840 --> 0:12:33.199 editor Bill Ferries and Bill just listening to those comments, 0:12:33.200 --> 0:12:35.240 it sounds like the President is sort of glossing over 0:12:35.280 --> 0:12:37.719 the details. But let's get into the details. 0:12:37.720 --> 0:12:42.120 What is in this deal? Good morning, Good morning, Nathan. 0:12:42.200 --> 0:12:44.680 Well, I think we almost know more about what's not 0:12:44.840 --> 0:12:47.480 in the deal at this point than we know what's 0:12:47.640 --> 0:12:51.200 exactly in the deal. But as you mentioned, what's not 0:12:51.320 --> 0:12:54.319 in in it is is that initial five hundred billion 0:12:54.400 --> 0:12:57.680 dollar requests that the US had to get repaid for 0:12:57.760 --> 0:13:00.800 its support to Ukraine over the last three years of 0:13:00.840 --> 0:13:03.719 this war. It seems to be more of a kind 0:13:03.760 --> 0:13:08.840 of a framework agreement that will create a fund jointly 0:13:08.880 --> 0:13:13.280 managed by the US and Ukraine based on revenue that 0:13:13.400 --> 0:13:17.080 comes from developing rarer and perhaps. 0:13:16.840 --> 0:13:19.080 Other natural resources in Ukraine. 0:13:19.520 --> 0:13:22.120 We don't know what that fund is expected to top 0:13:22.160 --> 0:13:24.600 out at, and we don't exactly know what that fund 0:13:24.640 --> 0:13:27.120 is going to spend its money on. But it seems 0:13:27.160 --> 0:13:30.000 like both sides have agreed in this situation. 0:13:30.080 --> 0:13:31.800 They've agreed to agree, and. 0:13:31.720 --> 0:13:35.440 That's probably for Ukraine the most important part of this. 0:13:35.559 --> 0:13:37.920 If you remember, just last week, we were watching the 0:13:38.000 --> 0:13:43.360 US Ukraine relationship melt down as Trump called Zelensky a 0:13:43.400 --> 0:13:47.960 little dictator and Zolensky said that Trump was living in 0:13:48.000 --> 0:13:51.680 a disinformation space. So things we're looking very rocky a 0:13:51.720 --> 0:13:55.080 week ago, Zelensky coming into Washington now looks like they've 0:13:55.120 --> 0:13:58.120 agreed to at least be in the same room and talk. 0:13:58.559 --> 0:14:00.720 We don't think there are, as far as we know, 0:14:00.800 --> 0:14:04.680 security guarantees for Ukraine and all of this, but it's 0:14:04.760 --> 0:14:07.240 probably as much as they're going to get at this point, 0:14:07.280 --> 0:14:10.040 and they keep that relationship with the US functioning. 0:14:10.480 --> 0:14:13.880 Okay, So where does this leave things when it comes 0:14:14.000 --> 0:14:19.440 to getting closer to a resolution between Russia and Ukraine 0:14:19.720 --> 0:14:23.240 and with Europe as well. Of course, in the talks 0:14:24.080 --> 0:14:27.040 with US and Russian officials, Europe was kind of left 0:14:27.040 --> 0:14:27.840 on the sidelines. 0:14:28.560 --> 0:14:30.960 They were left on the sidelines in what seems to 0:14:31.000 --> 0:14:34.520 be a process that's unfolding very very quickly. You know, 0:14:34.600 --> 0:14:36.960 Donald Trump just a few days ago said that he 0:14:37.320 --> 0:14:40.840 could be meeting with Vladimir Putin within a couple weeks. 0:14:41.800 --> 0:14:45.480 So I think where it leaves the overall situation, it 0:14:45.600 --> 0:14:48.880 gives Ukraine a chance to show that it's willing and 0:14:49.000 --> 0:14:52.120 able to strike a deal with the US that I think, 0:14:52.120 --> 0:14:56.080 from their perspective, keeps them at the table as the 0:14:56.120 --> 0:15:01.000 Trump administration pushes forward as quickly as possible, as quickly 0:15:01.000 --> 0:15:04.960 as they can to reach a deal with Russia. President 0:15:05.000 --> 0:15:09.400 Trump already talking about the potential for easing sanctions on 0:15:09.520 --> 0:15:14.080 Russia doing deals natural resource deals with Russia. I think 0:15:14.160 --> 0:15:16.400 Europe and Ukraine have been watching that with a lot 0:15:16.440 --> 0:15:20.120 of alarm at this point. They're glad to find something 0:15:20.160 --> 0:15:22.960 that gets Zelensky to sit at a table with Trump 0:15:23.160 --> 0:15:23.960 and reach a deal. 0:15:24.200 --> 0:15:26.040 And in terms of the kind of investment that we 0:15:26.080 --> 0:15:28.320 could see come out of this bill, there's a question 0:15:28.440 --> 0:15:32.960 about just how much resources Ukraine has, isn't there in 0:15:33.080 --> 0:15:36.200 terms of critical minerals, we have about a minute left. 0:15:36.800 --> 0:15:39.600 Yeah, I mean there have been reports of trillions of 0:15:39.640 --> 0:15:41.119 dollars in mineral deposits. 0:15:41.160 --> 0:15:43.240 But the reality is when you talk. 0:15:43.120 --> 0:15:47.240 About rare earth reserves, Ukraine has no rare earth reserves 0:15:47.240 --> 0:15:52.080 that are really recognized internationally as economically viable. So that's 0:15:52.120 --> 0:15:53.880 where a lot of questions I think are going to 0:15:53.880 --> 0:15:56.200 come up on how much money would really go into 0:15:56.240 --> 0:15:58.960 this fund? Is it really an economic deal or is 0:15:58.960 --> 0:16:00.680 it more of just a deal. 0:16:00.960 --> 0:16:04.360 This is Bloomberg Daybreak, your morning podcast on the stories 0:16:04.440 --> 0:16:07.480 making news from Wall Street to Washington and beyond. 0:16:07.720 --> 0:16:10.120 Look for us on your podcast feed by six am 0:16:10.160 --> 0:16:13.560 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:16:13.760 --> 0:16:16.640 You can also listen live each morning starting at five 0:16:16.680 --> 0:16:19.280 am Wall Street Time on Bloomberg eleven three to zero 0:16:19.400 --> 0:16:22.280 in New York, Bloomberg in ninety nine to one in Washington, 0:16:22.360 --> 0:16:25.680 Bloomberg ninety two to nine in Boston, and nationwide on 0:16:25.840 --> 0:16:28.040 serious XM Channel one twenty one. 0:16:28.440 --> 0:16:31.200 Plus listen coast to coast on the Bloomberg Business app 0:16:31.240 --> 0:16:34.040 now with Apple CarPlay and Android Atto interfaces. 0:16:34.240 --> 0:16:37.280 And don't forget to subscribe to Bloomberg News Now. 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