ICE Minneapolis Shooting Sparks Anger; US Seizes Two More Tankers in Venezuela Campaign

Bloomberg Audio Studios, Podcasts, Radio News.
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Karen, we begin this morning in Minneapolis.
That's where an Immigration and Customs enforcement officer fatally shot
a woman during a confrontation. Bloomberg's John Tucker joins us
with the latest John and Nathan.
The shooting, caught on video and shared widely on social media,
happened during what federal officials describe as a targeted operation.
It shows a Honda pilot blocking part of the road
as two federal agents approached. As one of them tried
to open the door, the suv backed up slightly. A
third agent then appeared in front of the vehicle and
fired at the driver as it began to turn and
move forward. Homeland Security Secretary Christy Nome calls it self
defense and domestic terrorism.
The ice officer, fearing for his life and the other
officers around him and the safety of the public, fired
defensive shots. He used his training to save his own
life and that of his colleagues.
The claim of self defense drew this response from Minneapolis
Mayor Jacob Frye. That is get out of Minneapolis. We
do not want you here. The driver was shot in
the head. She's identified as thirty seven year old Rene Good.
Minnesota Governor Timbowalls places the blame squarely at the feet
of the Trump administration.
It's governing by reality TV, and today that recklessness costs
someone their life.
President Trump described the video as a horrible thing to watch.
He accused the woman driving the carb resisting and claimed
she violently, willfully, and viciously ran over the ice officer.
Within hours, the Minneapolis killing ignited protests as far away
as New York City. In New York, coome John Tucker
Bloomberg Radio.
All right, John, thank you. We want to get the
latest now on Venezuela oil. Traders and refiners are rushing
to position after President Trump said the US will take
control of up to fifty million barrels of Venezuelan oil.
In an interview with The New York Times, the President
said only time will tell how long the US will
maintain oversight of the country, but when pressed, he said
it could be much longer than a year. Bloomberg's runs
Learn Mathison rapports the US may be aiming to control
Venezuelan oil exports indefinitely.
They would hold the proceeds in treasury accounts, which means
that creditors can't really get their hands on that money
at least for some time. The impact on the market
remains to be seen. I mean, Venezuelan oil is not
a key one in the market at the moment, a
market that's already very well supplied. I mean Donald Trump
is talking about up to fifteen million barrels of oil
being available. That seems quite optimistic, given that Venezuela is
only really pumping at the most one million barrels a.
Day and Bloomberg's range Mathison rapports President Trail plans to
meet with US oil executives at the White House in
the coming days, and.
Staying with foreign policy, Karen Bloomberg News has learned US
officials are rushing to come up with options for business
deals and other ways to step up links to Greenland.
President Trump has long said he wants the territory for
security reasons. Secretary of State Marco Rubio says he plans
to meet with Danish officials next week.
That's always been the president's intent from the very beginning.
He said it very early on. I mean, this is
not new. He talked about it in his first term.
Secretary of State Marko Rubio spoke with reporters on Capitol Hill.
European leaders have said a US takeover of Greenland would
be a major violation of NATO.
NATHAN When it comes to military strategy, President Trump is
calling for a huge boost in defense spending from one
trillion to one and a half trillion dollars a year.
At the same time, he's demanding that major defense contractors
end stock buybacks and dividends and cap executive pay at
five million dollars a year until they spend more on
weapons development. The President made the demands in a series
of social media posts and later followed them up with
an executive order. Palmer Lucky is the founder of defense
technology company Anderrell and says he does not have a
problem with it.
If I am getting paid by taxpayers, they should have
ability to elect people, elect representatives, elect who will then
nominate people who can hold me to account in any
way they wish. If they want to say that I
only pay myself five million dollars until I'm caught up
with my schedules, they should be allowed to do that.
And Palmer Lucky tells Bloomberg he only pays himself one
hundred thousand dollars a year now. Shares and legacy defense
contractors took a hit after the president's moves, but this
morning they're bouncing back. In Northrop Grumman it's up seven
and a half percent this morning, Lockheed Martin it's up
seven and a half percent as well, and RTX is
up nearly five percent, Karen.
The White House is reportedly drafting an executive order on affordability.
That's according to a report from Politico. After President Trump
posted on social media he will immediately take action to
ban large institutional investors from buying more single family homes
than he'll ask Congress to codify that. Bloomberg Intelligence real
estate analyst Jeffrey Langbam explains how this impacts Wall Street.
If at the end of the day, these companies that
largely grow by buying new rental health homes, if they're
prohibited from doing that, that takes away a big part
of their growth engine. And then you know, it raises
the question of whether there's a viable business model there.
If the government is anti institutional ownership of rental.
Homes Bloomberg Intelligence channelst Jeffrey Langbaum, the President's post sent
the S and P fifteen hundred home building index down
two point six percent.
Well Nathan on Capitol Hill swing distinct Republicans divide party
leaders to join Democrats in advancing legislation to revive expired
Obamacare subsidies for three years. The procedural votees up floor
consideration of a clean three year subsidy extension later this week,
which is expected to achieve similar levels of support. House
passage would increase pressure on the White House and Senate
lawmakers to reach a bipartisan deal to revive the enhanced
tax credits that lowered out of pocket premiums.
Turin the markets, Karen futures are lower once again after
mostly down day on Wall Street, following a strong start
to the equity markets in twenty twenty six. Cameron Dawson,
as chief investment officer at New Edgewalth.
We think that we'll have volatility along the way, but
that there's still room for the markets to press higher.
Key point is that in the fourth year of the
bull market, we've had twenty three bull markets that have
been three years over the last fifty years. Fifty sixty
years or so, and the conclusion is about fifty percent
of the time they're able to get to that fourth
year of positive returns.
So we have a fifty to fifty.
Chance of being able to deliver positive returns in twenty
twenty six.
New Edgewelt's Cameron Dawson says the next big event for
the market is tomorrow when the Labor Department releases the
December jobs report and.
Company News Nathan and Vidia shares getting a bit of
a boost in early trading. Bloomberg News has learned Shuina
plans to approve some imports of in Vidia's H two
hundred ships as soon as this quarter, and we get
more with Bloomberg's Valery Titel.
Definitely good news for Nvidia to return to the Chinese
market is it would be a big turnaround of events.
China is the world's largest market for semiconductors. Nvidia used
to have a market share of ninety five percent, but
now because of these export restrictions, it has a market
share that's closer to zero these days.
Bloomer's Valery Titel says Chinese officials are preparing to allow
local companies to buy ships from Nvidia for select commercial
use and shares of Nvidia. They're up about a third
of up percent this morning. Time now for look at
some of the other stories making news in New York
and around the world, and for that we're joined by
Bloomberg's and Michael Barr.
Michael, good morning, Good morning.
Karen. Nick Reiner, who is charged with killing his parents,
Rob and Michelle Reiner, appeared in the Los Angeles courtroom
to be arraigned. However, Reiner's high profile attorney, Alan Jackson,
was granted a request to be removed from the case.
Jackson offered no explanation as to why, but says he
withdrew from the case due to circumstances beyond Nick Reiner's control.
Jackson says, though he remains committed to Nick's best interest and.
You can take this to the bank. Is it pursuant
to the laws of this state.
Pursuant to the law in California, Nick Reiner is not
guilty of murder? Print that.
Print that Reiner has now been appointed a public defender.
Police in Utah say two people were killed and several
injured in a shooting outside a church in Salt Lake City.
People were attending a funeral inside at the time. The
shooting took place in the parking lot of a meetinghouse
of the Church of Jesus Christ of Latter day Saints.
Salt Lake City Mayor Aaron Mendenhall.
This should never have happened.
This should never have happened outside a police of worship.
It should not have happened at.
A celebration of life that was occurring inside of the church.
Mayor menden Hall says they are still searching for the shooter.
NASA is considering ending a mission on board the International
Space Station early after an astronaut suffered a medic emergency.
The space agency said it could curtail the Crew eleven
mission in a rare move which involve astronauts from the US, Japan,
and Russia. NASA postponed today's spacewalk in light of the
emerging health concern. Global News twenty four hours a day
and whenever you want it with the Bloomberg News.
Now Michael Bayn this is Bloomberg Karen.
Thanks Michael all the time. Now for our Bloomberg Sports updating.
For that we bring in John Stashauers.
Carrying a trade in the NBA. Trey Young was the
top player for the Atlanta Hawks for seven and a
half seasons. The Hawks have traded Young to the Washington
Wizards for CJ McCullum and Corey crispurn Our baseball trade,
the Marlins are traded starting pitcher Edward Cabrera to the
Cubs for three prospects. College football playoffs semi finals tonight
in Phoenix. It's Miami against ole Miss. The Hurricanes coming
off the upset of defending champion Ohio State. Ole Miss
has two playoff wins since it's coach Lane Kiffin left
for LSU. That's to Bloomberg Sports Update.
Stay with us.
More from Bloomberg Daybreak coming up after.
This Coast to coast on Bloomberg Radio, nationwide on Sirius Exam,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Good morning, I'm Nathan Hager.
The US strategy for Venezuela may be starting to take
shape now that President Trump has said the US will
sell up to fifty million barrels of sanctioned Venezuelan crude.
Here's Secretary of State Marco Rubio we.
Have tremendous control and leverage over what those intro authorities
are doing and are able to do. But obviously this
will be a process of transition. In the end, it
will be up to the Venezuelan people to transform their country.
That was Secretary of State Marco Rubio, speaking after a
briefing with lawmakers on Capitol Hill this morning. We're joined
by Bloomberg DC Breaking News editor Alexander Pearson. Of course,
alex we haven't just heard from Secretary of State Rubio.
President Trump gave a pretty wide ranging interview to The
New York Times, saying own time will tell how long
the US will maintain control of Venezuela.
That points to a pretty big challenge ahead, doesn't it.
Good morning, Yes, good morning, Nathan. Yeah, that's right.
So we've had not just from Trump but also from
his energy sectory that this could be a very very
long operation involving Venezuela and specifically the selling of Venezuelan oil.
And that really has to do with the fact that
it's going to take a long time to actually get
a lot of the productive capacity in Venezuela back online.
Companies if they go in there, they're going to have
to invest a lot of money. It's going to take
a lot of time, and so they very much seem
to be signaling that they're aware of this and that
you know, in the words of actually the energy sectary
Chris Right, it could even be indefinite in terms of
how long they are involved in the selling of Venezuela's
exports on oil.
So this raises a lot of questions whether the interim
Venezuelan government is really in cooperation with the US and
whether US oil companies are willing to go in at
this point when the situation on the ground in Venezuela
may be pretty uncertain.
Yeah, exactly. That's also a big question for these companies,
and Venezuela has not been a great prospect in terms
of investments for many decades. And even now with the
removal of President Maduro, the you know, his allies are
still in office. The country is still in a very
uncertain political environment. It's not clear where it's going to
go when the next elections is going to happen. And
you know, for the US oil majors who potentially want
to go in, and certainly Trump wants them to go in,
they will want reassurances from the US that you know,
an investment that's going to take place over ten, you
know twenty to thirty years is going to be protected,
is going to be safe, and that certainly seems to
be will probably be on the agenda tomorrow when President
Trump meets with oil executives at the White House.
And while the situation in Venezuela continue used to unfold,
We've gotten some pretty interesting comments from President Trump when
it comes to his vision for the military, calling for
a massive increase in defense spending, well at the same
time warning major defense contractors not to do stock buybacks
and limit executive pay.
How to square all that, Alex.
Yeah, it's been interesting in terms of his announcements. Certainly
on the stock market, there's been some whiplash. So initially
Trump was very critical of the major US defense contractors,
saying they spent too much on dividends, buybacks, on executive
pay and was calling for essentially bands and caps on
those and that sent stock prices down. And then he
followed up shortly thereafter saying he wanted a massive expansion
on defense spending, so increasing it from just on the
trillion right now to one point five trillion dollars in
twenty twenty seven. That's obviously a huge increase, a huge
increase on what is already a very high amount of
spending on defense. The US spends far more than any
other country on defense, and that then caused you all
these stock prices to increase because obviously these companies are
set to, you know, get a large windfall from that.
But it is very much mixed messaging, and certainly investors
and these companies will be looking at what the next
houst will be, particularly on his criticisms and on this
executive order that is attempting to curtail some of their
decision making with regards to their shareholders.
This is Bloomberg Daybreak, your morning podcast on the stories
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Ray