Fmr Olympian, Alleged Drug Lord Arrested, Massive Winter Storm, More
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What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now, I'm Amy Morris. Ryan Wedding has been arrested. The former Olympic snowboarder was among the FBI's most wanted fugitives. Wedding is accused of running one of the world's largest cocaine networks and was sought for allegedly helping orchestrate a billion-dollar drug enterprise with Mexico's Sinaloa cartel.
Who is the former Olympian arrested and what are the allegations against him?
Wedding competed for Canada in the 2002 Winter Olympics. He now faces charges related to drug trafficking and the killing of a federal witness. A huge chunk of the U.S. is on alert for winter storm conditions that could last days, disrupting travel and threatening blackouts. At least 170 million people are in the areas likely to be impacted with the storm expected to bring a mix of freezing rain and snow and heavy ice accumulations. Bloomberg meteorologist Rob Carolin tells us the storm begins today in the southwestern U.S., then makes its way across the country to the east coast.
Many of the major cities in the eastern United States will see snow either late Saturday or Sunday, and it should be ending either Sunday night or Monday. We could see as much as a foot around the Washington area and Baltimore. New York City also could see a foot and more than a foot as possible around the Boston area.
But it's not just snow. The big concern is ice, making travel hazardous and increasing the risk for power outages in sub-freezing temperatures. Prices for electricity and natural gas have already started to rally, natural gas now 2.5 percent higher. Chinese officials have told the country's largest tech firms, including Alibaba Group, they can prepare orders for NVIDIA's H200 AI chips. It suggests Beijing may be close to formally approving imports of components essential to running artificial intelligence. We get more with Bloomberg's Isabel Lee.
You know, Beijing is close to formally approving imports of components essential to running AI. That's according to people familiar with the matter. And this means Beijing will encourage companies to buy a certain amount of domestic chips as a conditional approval. So the government is obviously prioritizing the needs of major Chinese hyperscalers.
Bloomberg's Isabel Lee, NVIDIA shares more than 1.5% higher. Intel shares are 16% lower after that chipmaker's CEO gave a lackluster forecast and warned of continuing struggles with manufacturing issues. Bloomberg's Neil Kampling with more.
Back in the day, Intel was the largest semiconductor company in the world. Today, NVIDIA, in market cap terms, is 17 times larger than Intel. And I think that sums it quite nicely as to where they are on the tech curve, and Intel are continuing to struggle with that technology footprint.
How extensive is the winter storm and which U.S. regions face power outage risks?
Bloomberg's Neil Campling. NVIDIA may be on the rise, Intel continuing to sink, and the S&P could see its first back-to-back weekly drop since June. Traders now shifting their focus to the last few economic reports in the run-up to the Federal Reserve decision. We check markets for you all day long here at Bloomberg. The S&P 500 is up about a tenth of a percent. NASDAQ up about a half percent. The Dow down about a half percent. Ten-year Treasury yield at 4.25 percent. The two-year yield at 3.6 percent. Silver has topped $100 an ounce for the first time, extending a rally built on surging demand for haven assets. And frenzied buying in retail markets, silver now 4.5% higher. And on Wall Street, we're getting a fresh look at how consumers feel from the University of Michigan.
Bloomberg's Michael McKee has the university's final sentiment index for January.
happier than we were yesterday or when the last time they took their survey. 56.4 up from 54. So a significant increase in sentiment. Current conditions rise to 55.4 from 52.4 and expectations to 57 from 55. So across the whole expectations curve we see.
Bloomberg's Mike McKee says inflation expectations for the next year are down as well to 4 percent. That's the lowest since last January. Talks between the U.S., Russia and Ukraine are underway. The Kremlin says the territorial issue remains unresolved.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–0:21
2
Who is the former Olympian arrested and what are the allegations against him?
0:21–2:38
3
How extensive is the winter storm and which U.S. regions face power outage risks?
2:38–4:47
4
What snowfall and ice amounts are forecast for Washington, New York and Boston?
4:47–4:49
Speakers
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