Stephen Carroll

Republican Steve Davies there speaking to Bloomberg yesterday.

According to the U.S.

Office of Foreign Assets Control, individuals and entities across the Middle East that helped Tehran develop advanced weapons have been blacklisted.

In his State of the Union address, President Trump claimed Iran was working to reconstitute its nuclear program even as it negotiates with Washington.

And those are your top stories on the programme this morning.

Coming up next on Daybreak, excuse me, let's check in on what's happening on the markets for you this morning.

We are looking at the Euro Stocks 50 futures up slightly this morning.

The FTSE 100 futures are up by a tenth of 1%.

The MSCI Irish Pacific Index, eight tenths higher this morning.

NASDAQ futures after yesterday's NVIDIA earnings, down by two tenths of 1%.

And the Bloomberg Dollar Spot Index is weaker for a second day this morning, down a tenth of 1%.

I'm Stephen Carroll.

And this is Bloomberg.

President Trump also used his speech to claim that Iran is working to reconstitute its nuclear programme.

The accusation comes after a US military strike last June that the president had previously said resulted in the obliteration of Iran's key nuclear sites.

The US has now amassed a military force in the Middle East not seen since the 2003 Iraq invasion.

As speculation grows that Trump is preparing for a fresh round of strikes in the coming days, he also issued this confrontational warning to the regime in Tehran.

Iran has long argued that its nuclear programme is for peaceful purposes.

Trump's comments now set the stage for a high-stakes meeting in Geneva tomorrow between US and Iranian officials aiming at securing a nuclear deal.

A growing number of industry voices is warning of risks in the private credit market.