Bloomberg Daybreak: US Edition

On today's podcast: 1) President Donald Trump said the US and Russia are already talking about dividing “assets” as part of a push to end the fighting in Ukraine, the latest sign that he may be preparing to sacrifice Kyiv’s interests when he speaks with Vladimir Putin on Tuesday. 2) Israel launched a series of airstrikes overnight across Gaza, shattering a nearly two-month ceasefire with Hamas.Prime Minister Benjamin Netanyahu vowed to act “with increasing military strength” and said the Palestinian militant group had repeatedly refused to release the hostages it’s holding. 3) Two NASA astronauts stuck in orbit for nine months finally departed the International Space Station aboard a SpaceX capsule on Tuesday, kicking off their long-awaited voyage home. See omnystudio.com/listener for privacy information.

On today's podcast: 1) President Donald Trump said he’ll speak with Russian President Vladimir Putin on Tuesday as the US presses for an end to fighting in Ukraine and European nations rush to bolster their support for Kyiv. “We are doing pretty well I think with Russia,” Trump told reporters aboard Air Force One on Sunday. “We’ll see if we have something to announce maybe by Tuesday,” he said, adding that there is “a very good chance” for a deal. The Trump administration has pushed for a ceasefire between Russia and Ukraine amid a flurry of renewed engagement between Washington and Moscow, three years after Russia’s full-scale invasion. Yet that effort has sparked angst among European leaders who worry Trump may concede too much on Ukraine’s behalf in a direct exchange with Putin and leave Kyiv without any longer-term security guarantees. 2) Treasury Secretary Scott Bessent, a former hedge fund manager, said he’s not worried about the recent downturn that’s wiped trillions of dollars from the equities market as the US seeks to reshape its economic policies. “I’ve been in the investment business for 35 years, and I can tell you that corrections are healthy, they are normal,” Bessent said Sunday on NBC’s Meet The Press. “I‘m not worried about the markets. Over the long term, if we put good tax policy in place, deregulation and energy security, the markets will do great.” 3) The Trump administration said it arrested and expelled hundreds of alleged members of Venezuela’s Tren de Aragua gang to El Salvador for imprisonment, even as a federal judge ordered a halt to some deportations. “This weekend, at the President’s direction, the Department of Homeland Security successfully arrested nearly 300 Tren De Aragua terrorists, saving countless American lives,” White House Press Secretary Karoline Leavitt said Sunday in a statement. “These heinous monsters were extracted and removed to El Salvador where they will no longer be able to pose any threat to the American People.” The US is paying El Salvador to hold the Venezuelans under an agreement Secretary of State Marco Rubio brokered with the Central American country’s president, Nayib Bukele. Some 238 members of the gang were transferred to a terrorism confinement center, Bukele said on X. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. See omnystudio.com/listener for privacy information.

On today's podcast: 1) Part of the equity optimism comes on signs the US will avert a government shutdown. Senate Democratic leader Chuck Schumer opted not to block the Republican bill, avoiding a government shutdown. 2) The US quietly tightens sanctions on Russia as it seeks a ceasefire deal. The Trump administration let a license covering payments for energy to a handful of Russian banks expire, making it difficult for foreign oil refineries, traders, and buyers of Russian gas to pay Russia in dollars or other Western currencies. 3) President Trump's trade war continues to impact global markets. Companies worldwide are planning for the worst as President Trump's tariffs create uncertainty, with some setting up "tariff task forces" to mitigate the impact on sales, profits, and market shares. See omnystudio.com/listener for privacy information.

On today's podcast: 1) President Donald Trump said the US would respond to the European Union’s countermeasures against his new 25% tariffs on steel and aluminum, raising the risk of further escalation in his global trade war. 2) Senate Democratic leader Chuck Schumer said his party would block a Republican spending bill to avert a government shutdown on Saturday and urged the GOP to accept a Democratic plan to provide funding through April 11 instead. 3) The worst of the US equity correction may be over, with credit markets indicating a lower risk of recession, according to JPMorgan Chase & Co. See omnystudio.com/listener for privacy information.

On today's podcast: 1) The European Union launched countermeasures on Wednesday against new US metals tariffs, with plans to impose its own duties on €26 billion ($28.3 billion) worth of American goods. 2) Less than two weeks after Donald Trump lambasted Ukrainian President Volodymyr Zelenskiy in an Oval Office confrontation, the US president put the pressure on Russia to accept a ceasefire agreement hammered out with Zelenskiy’s advisers. 3) House Republicans passed legislation to keep the US government open past a Saturday shutdown deadline, daring moderate Democrats in the Senate to block the measure over objections it fails to constrain Elon Musk’s cost-cutting crusade. See omnystudio.com/listener for privacy information.

Bloomberg's Nathan Hager breaks down the recent market volatility with Morgan Stanley's Mike Wilson and Bloomberg Opinion contributor Mohamed El-Erian. Global stocks steadied from a selloff and US stock futures signaled a Wall Street bounce, as Bloomberg News reported President Donald Trump will meet with top business executives later in the day. Contracts for the Nasdaq 100 rose 0.5% after the index’s deepest slump since 2022, while those on the S&P 500 climbed 0.4%. Tesla Inc. shares rose in premarket trading after Monday’s 15% slide while other tech names including Nvidia Corp. also edged higher. In Europe, the Stoxx 600 index was steady while earlier, Asian shares bounced off an intraday five-week low.There was relief for other risk assets too, as Bitcoin stabilized after a five-day selloff and oil prices notched a small bounce from Monday’s drop. However, concerns over the once unstoppable resilience of the US economy continue to support Treasury markets, with 10-year yields edging lower again on Tuesday. The dollar index slid 0.3%. See omnystudio.com/listener for privacy information.

On today's podcast: 1) The stock selloff moderates around the world as the world's richest lose more than $200 billion since President Trump's Inauguration. It comes as Wall Street strategists like Citi downgrade views on US equities. Investors remain cautious due to concerns about the American economy, tariffs, and government spending cuts. 2) Ukraine launches its biggest attack yet against Russia ahead of talks with the US. Ukraine launched a record number of drone attacks on Russia, with air defenses downing 337 drones including dozens that targeted Moscow. Top US and Ukrainian officials are set to meet in Saudi Arabia to explore the potential for reaching a ceasefire, with the US seeking a clear commitment from Ukraine to a diplomatic resolution. 3) House conservatives get behind a stopgap to avert a government shutdown. The House Freedom Caucus has backed a stopgap funding package, which would reduce and then freeze spending for six months, to help Speaker Mike Johnson pass the bill without Democratic support. The bill's fate is uncertain, with some Republicans, including Representative Thomas Massie, opposed to the measure, and Democrats' support still needed to clear the Senate. See omnystudio.com/listener for privacy information.

On today's podcast: 1) President Donald Trump said the US economy faces “a period of transition,” deflecting concerns about the risks of a slowdown as his early focus on tariffs and federal job cuts causes market turmoil. 2) Mark Carney won the race to become Canada’s next prime minister, putting the former central banker in charge of the country just as US President Donald Trump’s administration threatens its economic future 3) President Donald Trump said Sunday he was negotiating with four different possible buyers for TikTok’s US business and that a deal for the social video app could come “soon.” See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. See omnystudio.com/listener for privacy information.

On today's podcast: 1) President Donald Trump exempted Mexican and Canadian goods covered by the North American trade agreement known as USMCA from his 25% tariffs, offering major reprieves to the US’s two largest trading partners. 2) China’s top diplomat accused Donald Trump of taking a hypocritical approach to bilateral ties and denounced tariffs, as tensions rise between the world’s largest economies. 3) Broadcom Inc. shares were on track for their biggest gain in 12 weeks in early trading after the chip supplier for Apple Inc. and other big tech companies gave an upbeat forecast, reassuring investors that spending on artificial intelligence computing remains healthy. See omnystudio.com/listener for privacy information.

On today's podcast: 1) President Trump hits reverse on auto tariffs for Canada and Mexico for now. The Trump administration is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, following pleas from industry leaders. The exemption applies to auto parts that comply with the USMCA trade pact. It comes as the president's set to meet with US tech leaders Thursday, whose companies also face the possibility of import tariffs and stricter export rules. 2) European leaders gather for an emergency summit on military defense. European leaders meet in Brussels for emergency talks on Ukraine and defense spending. They are discussing an EU proposal to unlock as much as €800 billion of funds across the bloc. Germany will seek a constitutional amendment to exempt defense from its budget limit. 3) A global bond selloff continues following Germany's historic spending plans. A global bond selloff continued due to Germany's spending plans, which are expected to reshape growth outlook on the continent. Investors are reacting to Germany's move to unlock hundreds of billions of euros for defense and infrastructure investments, which is expected to boost its economy and spill over to neighboring countries. See omnystudio.com/listener for privacy information.

On today's podcast: 1) President Trump promises golden age but warns tariffs could cause disturbance, President Trump defended his tariff plan, saying it would raise "trillions and trillions" in revenue and rebalance trading relationships, despite acknowledging potential economic pain. The president touted his tariff moves as effective in bringing jobs to the US, threatened to impose new tariffs, and announced plans for domestic energy production and an office of shipbuilding at the White House. 2) Trump calls for a repeal of the Chips Act. The president touted his tariff moves as more effective at bringing jobs to the US than Biden’s efforts, which included the Chips and Science Act and its billions in subsidies to spur domestic semiconductor manufacturing. Trump urged lawmakers to eliminate the Chips Act and said he would not give chipmakers any more funds from the law. 3) Job cuts are on the way at Disney. The Walt Disney Company is eliminating roughly 200 jobs across its ABC and entertainment TV networks, according to an internal memo. The majority of the cuts affect the ABC News division in New York. Production units including ABC News Studios, 20/20 and Nightline will be consolidated and the impacted employees will be notified on Wednesday, according to the memo. See omnystudio.com/listener for privacy information.

President Donald Trump acknowledged there may be an “adjustment period” as his tariffs take effect, but defended his push to remake the US economy and declared “momentum is back” in a primetime speech to Congress on Tuesday night. “Tariffs are about making America rich again and making America great again. And it’s happening, and it will happen rather quickly,” Trump said in the longest-ever presidential address to a joint session. “There’ll be a little disturbance, but we’re okay with that. It won’t be much.” Trump’s address comes at a pivotal moment. Data shows new strains on the economy as factory activity stagnates, inflation simmers, consumer confidence ebbs, and stocks lag behind equity markets in other countries. Stocks swung wildly Tuesday following Trump’s most recent tariff actions against the US’s largest trading partners, with the S&P 500 Index closing at its lowest level since before the president’s election last year. Commerce Secretary Howard Lutnick hinted the administration might announce a pathway for tariff relief for goods from Mexico and Canada — two of the countries hit — that are covered by a free trade agreement as soon as tomorrow. For instant reaction and analysis to President Donald Trump's joint address to Congress, plus Michigan Democratic Senator Elissa Slotkin's speech in response, Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz along with Bloomberg Surveillance cohost Annmarie Hordern speak with: See omnystudio.com/listener for privacy information.

Russia agreed to assist President Donald Trump’s administration in communicating with Iran on issues including the Islamic Republic’s nuclear program and its support for regional anti-US proxies, according to people familiar with the situation. Trump relayed that interest directly to President Vladimir Putin in a phone call in February and top officials from his administration discussed the matter with their Russian counterparts at talks in Saudi Arabia days later, people familiar with the matter in Moscow said, declining to be identified because of the sensitivity of the issue. White House officials did not immediately respond to a request for comment. Neither Russia nor Iran have publicly confirmed or denied the request. Kremlin spokesman Dmitry Peskov said in response to questions sent by Bloomberg that “Russia believes that the United States and Iran should resolve all problems through negotiations” and that Moscow “is ready to do everything in its power to achieve this.” A spokesman for Iran’s foreign ministry, when asked if Russia had offered to mediate between Tehran and Washington, said only it was “natural” for countries to offer their assistance. “Given the significance of these matters, it’s possible that many parties will show good will and readiness to help with various problems,” the spokesman, Esmaeil Baghaei, said during a televised press conference Monday in Tehran. “From this perspective, it’s natural that countries will present an offer of help if it’s needed.” The ministry didn’t respond to questions from Bloomberg News. Since taking office about six weeks ago, Trump has tried to restore relations with President Vladimir Putin, which the US severed after Russia’s 2022 full-scale invasion of Ukraine. As Trump seeks to broker an end to that war directly with Putin — including a Feb. 12 phone call between the two leaders — both sides have signaled they’re open to cooperating on other geopolitical interests, including trade routes and resources in the Arctic. Top US and Russian officials, including Secretary of State Marco Rubio and Foreign Minister Sergei Lavrov, discussed Washington’s interest in Moscow helping with Iranian issues, during a Feb. 18 meeting in Riyadh, according to people with knowledge of the situation, asking not to be identified as not all details of those talks have been made public. Russia’s Lavrov later shared details about the US meeting with his Iranian counterpart Abbas Araghchi when they met in Tehran, Araghchi said in a televised press conference after the meeting. See omnystudio.com/listener for privacy information.

On today's podcast: 1) Trump Escalates Global Trade War, Sparking Tit-for-Tat Tariffs. President Donald Trump delivered on his threat to hit Canada and Mexico with sweeping import levies and doubled an existing charge on China, spurring swift reprisals that plunged the world economy into a deepening trade war. The US new tariffs — 25% duties on most Canadian and Mexican imports and raising the charge on China to 20% — impact roughly $1.5 trillion in annual imports, an expansive move signaling to markets that the Republican president is committed to wielding import duties to obtain fresh revenue and create domestic manufacturing jobs. 2) What Trump Aims to Achieve With His Tariffs. After promising during his election campaign to put import taxes back at the center of US economic policy, President Donald Trump moved swiftly once back in office, announcing significant new tariffs aimed at America’s trading partners. The tactics — implementing new tariffs and threatening others in an effort to intimidate or gain leverage on other disputes — represent a dramatic shift in a global economy where most major economies have sought to reduce trade barriers. 3) Trump Pauses Military Aid to Ukraine After Clash With Zelenskiy President Donald Trump ordered a pause to all US military aid to Ukraine, turning up the heat on Volodymyr Zelenskiy days after an Oval Office blowup with the Ukrainian president left support from his country’s most important ally in doubt. The US is holding up all pending military assistance until Trump determines Ukraine’s leaders demonstrate a good-faith commitment to peace, according to a senior Defense Department official, who asked not to be identified discussing private deliberations. The administration will also review the aid to make sure it’s contributing to a solution to the conflict, a White House official said. See omnystudio.com/listener for privacy information.

On today's podcast: 1) Europe races to support Ukraine after last week's Oval Office blowup. European leaders, including UK Prime Minister Keir Starmer, Italian counterpart Giorgia Meloni, and French President Emmanuel Macron, are working to rebuild relations between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy after a disastrous clash at the White House. The leaders are fast-tracking efforts to improve their own defense capabilities and are seeking to build a "coalition of the willing" to participate in peacekeeping forces and reassure Kyiv about the durability of any peace. 2) President Trump readies a barrage of tariffs on Canada, Mexico and China. President Donald Trump is planning to impose new tariffs on Canada and Mexico, and double a levy on China, which would apply to roughly $1.5 trillion in annual imports. The tariffs would put a 25% tariff on all imports from Canada and Mexico, except Canadian energy, which would face a 10% rate, and would also double a tariff on China to 20%. 3) Andrew Cuomo enters the race for New York City mayor. Andrew Cuomo, the former three-term governor of New York, has announced his candidacy for mayor of New York City, joining a crowded field of challengers vying to unseat incumbent Mayor Eric Adams. Cuomo's decision to run has upended the race, with several polls showing him leading the field, and he has touted his record during the Covid-19 pandemic despite criticism from both Republicans and some members of his own party. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. See omnystudio.com/listener for privacy information.

Plans to sign a critical minerals deal between the US and Ukraine were scrapped after Donald Trump’s meeting Friday with Volodymyr Zelenskiy quickly devolved into a fiery exchange over the Ukrainian leader’s doubts that the US president’s efforts to broker a deal with Russia would yield lasting peace. Zelenskiy departed the White House following the public spat, and a planned signing ceremony and press conference were canceled. US officials said the minerals deal - which Trump had cast as a necessary step to repay American support as he sought to broker a deal with Russia’s Vladimir Putin - was not signed before Zelenskiy’s departure. “He disrespected the United States of America in its cherished Oval Office. He can come back when he is ready for Peace,” Trump said in a social media post shortly before Zelenskiy’s departure. The Ukrainian leader angered Trump and US Vice President JD Vance when he said he did not believe the planned deal would do enough to deter further Russian aggression. “Putin will never stop and will go further and further,” Zelenskiy said, adding that the Russian leader “hates Ukrainians” and wanted to destroy the country. “We can do it, but it’s not enough,” he added of the deal. On this special edition of Balance of Power, hosts Joe Mathieu and Kailey Leinz get instant reaction and analysis to the dramatic moment between Trump and Zelenskiy in the Oval Office with: See omnystudio.com/listener for privacy information.

On today's podcast: 1) China warned it would hit back at Donald Trump’s trade threats after the US president unveiled additional tariffs on Chinese imports, raising the risk of tensions spiraling between the world’s largest economies.“If the US insists on having its own way, China will counter with all necessary measures to defend its legitimate rights and interests,” a spokesperson for the Chinese Ministry of Commerce said Friday. In response to the last round of tariffs, the department previously vowed to take “corresponding” steps. 2) President Volodymyr Zelenskiy arrives at the White House on Friday with a personal appeal to persuade Donald Trump not to sell out his country in the rush to make a peace deal with Russia. The worst fears seemed to fade a bit on the eve of the trip, as the American president blithely walked back his denunciation of his Ukrainian counterpart as a “dictator” just last week. 3) A reading of US inflation due later today comes into sharper focus now that tariffs could be implemented sooner than anticipated, with any surprising increases likely to shake up the market. The Federal Reserve’s preferred inflation metric is expected to cool to the slowest pace since June. The core personal consumption expenditures price index — which excludes often-volatile food and energy costs — probably rose 2.6% in the year through January. Overall PCE inflation likely eased on an annual basis as well, according to the median estimate in a Bloomberg survey of economists. See omnystudio.com/listener for privacy information.