Nathan Hager

Bloomberg's Monica Ricks notes the president's made just one cabinet shift in his second term, replacing Kristi Noem with Mark Wayne Mullen as Homeland Security Secretary.

The latest report on layoff notices is out from Challenger Gray and Christmas.

We get that from Bloomberg's Michael McKee.

Bloomberg's Mike McKee says that 60.6 thousand number is up more than 24 percent from February.

He says these are layoff notices.

It doesn't mean the layoffs have actually happened.

That's news when you want it with Bloomberg News Now.

I'm Nathan Hager.

This is Bloomberg.

News when you want it with Bloomberg News Now.

I'm Nathan Hager.

And I'm Alexis Christophorus.

Here are the stories we're following today.

Alexis, we begin with a major speech from President Donald Trump as the U.S.

war with Iran nears the end of the five-week mark.

In a primetime address heard live on Bloomberg Radio, the president defended his decision to go after Tehran's nuclear and missile programs more than a month ago.

The president said the action he's taken is close to achieving that objective.

But before that, he says there will need to be more action.

At the same time, President Trump says discussions with Iran's regime are ongoing, but he did not lay out a plan to convince Tehran to allow passage through the Strait of Hormuz.

The president had this to say to allies struggling to get fuel through the Strait.