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Chapter 1: What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Karen Moscow.
Karen, we begin in Washington, where after just four days, the partial government shutdown is over. President Trump has signed his deal with Senate Democrats to reopen the government with less than two weeks of funding for the Department of Homeland Security. That's to allow for more time to negotiate on Democrats demands on new limits on immigration enforcement.
President Trump says the new law won't stop his immigration agenda.
It continues to fund immigration. deportation flights that are removing dangerous illegal aliens from our country. It continues historically successful efforts to reduce crime in our nation's capital. We have a very safe city right now.
That was President Trump at the Oval Office bill signing heard live on Bloomberg Radio. Bloomberg's Eric Wasson reports lawmakers now have just nine days to come to an agreement on how to rein in ICE agents.
Democrats have a long list of demands, including judicial warrants and taking masks off that Republicans are really not willing to entertain. And it's just very hard. The House would have to pass this very early next week for the Senate in order to take it up and get it done by February 13th. I don't see that happening.
Bloomberg's Eric Wasson reports if they don't reach a deal by next Friday, FEMA and TSA employees could start to miss paychecks. ICE and Border Patrol would continue to receive funds under President Trump's one big, beautiful tax and spending cut law.
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Chapter 2: What led to the recent government shutdown and its resolution?
But I'll be honest with you, you got to get back to running the country.
President Trump again speaking in the Oval Office. The Oversight Committee says the Clintons have agreed to appear for transcribed filmed depositions behind closed doors. The Clintons' attorneys say they want the hearings open to the public to address their concerns about fairness.
Nathan, let's turn to the markets now and futures are higher this morning. Gold is nearing $5,100 an ounce and yesterday tech stocks fell led by the recent sell-off led by software stocks. Bloomberg's John Tucker joins us with the very latest. John, good morning.
And good morning, Karen. The theme that's gripped investors is that AI is going to be able to do much of the stuff that software companies can do, making their products far less important. That was kind of reinforced when AI firm Anthropic released an AI tool that does legal work. It looks like a case of sell now, ask questions later.
And to that, the fact that investors growing impatient about returns from all the CapEx spending. Anika Gupta is at WisdomTree.
Given the fact that now we're seeing CapEx intentions rise 60 to 80 percent and they're rising off very high levels, we're now starting to see investors become a lot more discerning.
Now, in this environment, Microsoft has been crushed. The software giant down close to 25 percent from October. J.P. Morgan analyst Toby Ogg says we're now in an environment where the sector isn't just guilty until proven innocent, but is now being sentenced before trial. In New York, I'm John Tucker, Bloomberg Radio.
John, thanks. Big tech earnings continue today. We'll hear from Alphabet this afternoon. We get a preview from Bloomberg's Tom Busby.
Google's parent company, Alphabet, expected to post solid revenue and profit growth for last quarter, with its cloud computing division expected to get a big boost from the release of its latest Gemini AI models, which it also integrated into its Google Search and its Chrome browser.
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Chapter 3: What are the implications of the new immigration funding deal?
Like rivals Meta and Microsoft, a big focus for investors, though, is all the spending it's done on AI infrastructure and efforts to power its data centers. Bloomberg Consensus calls for revenue of $111.4 billion on earnings per share of $2.65. Tom Busby, Bloomberg Radio.
All right, Tom, thank you. Let's stick with earnings this morning. Shares of Advanced Micro Devices, those shares are down almost 8% in early trading. The Chipmakers reported top analyst estimates, but its sales forecast underwhelmed investors. It's a sign that AMD is not making the kind of AI inroads that some investors anticipated.
Well, another chipmaker, Karen, Silicon Labs, is soaring more than 33 percent. The Financial Times is reporting Silicon Labs is in talks to be acquired by Texas Instruments for around $7 billion.
Nathan Bloomberg News has learned NVIDIA is nearing a deal to invest $20 billion in OpenAI as part of its latest funding round. It marks the chipmaker's single biggest investment in the chat GPT developer. OpenAI is looking to raise up to $100 billion in funding for a new round, with much of that coming from large tech firms.
In Europe, Karen, shares of Nova Nordisk are plunging more than 17 percent. The pharma giant's warning of a steep decline of as much as 13 percent in its drug sales. Novo blames increased competition and lower prices for blockbuster weight loss medicines driven by a U.S. government push to bring down drug costs. We spoke with Novo CEO Mike Dustar.
Of course, I can understand that negative numbers are not good news to the market. But once again, this is something that we had anticipated. And the obesity market is quite dynamic. And the reason the range has its numbers on each end is because so many things can happen.
CEO Mike Dustar says Nova Nordisk will start a new share buyback worth as much as $2.4 billion.
Time now for the Bloomberg Sports Update, and we bring in John Stashower. John.
Thanks, Karen. A bunch of trades ahead of tomorrow's NBA trade deadline. James Harden goes from the LA Clippers to Cleveland. For Darius Garland, a swap of point guards. Veteran Jaron Jackson goes from Memphis to Utah. He was with the Grizzlies for eight years. Point guard Mike Conley moves from Minnesota to Chicago. And center Nikola Vucevic goes from Chicago to Boston. U.S.
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Chapter 4: How is the U.S. approaching diplomatic talks with Iran?
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