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Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth. News when you want it.
With Bloomberg News Now, I'm Amy Morris. The Bureau of Labor Statistics will not release the January jobs report this Friday as scheduled because of the partial government shutdown. Same for the JOLTS data. It was supposed to come out tomorrow. That will also be rescheduled. Bloomberg's Nathan Dean says this got the market's attention.
Anytime you're going to tell a market, when it comes to a government shutdown, most market impacts, they really aren't there. Even for contractors, they're not really there. Yeah. But for reports, they are there. And as we saw in the shutdown last year, a lot of traders were not happy about this lack of data out there. And this is just another consequence of a shutdown.
Bloomberg's Nathan Dean on Bloomberg balance of power. There is a bill that can keep the government operating. It would allow for two more weeks of discussion to come up with an agreement on ICE restrictions. Democrat Christian Menefee tells Bloomberg's balance of power he stands with his fellow Democrats. I will not be voting for funding for DHS.
What we've seen is the president and Nome radicalize an agency. I believe very deeply that we should not allow ICE to do what it's been doing. And I look forward to one of my early votes being to do everything I can to block additional funding. Democrat Christian Menifee just won a special election in a Houston district in Texas on Saturday.
President Trump has built an unprecedented war chest to help keep Republican control of Congress in the November elections, with his political committees and the Republican National Committee amassing $483 million. MAGA alone has taken in $313 million. since Trump's victory in 2024. The U.S. and India has reportedly reached a trade agreement significantly reducing tariffs on Indian goods.
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Chapter 2: What impact does the government shutdown have on job data release?
President Trump posted on social media he will lower his 25 percent tariff on Indian goods to 18 percent after Prime Minister Narendra Modi agreed to stop buying Russian oil. Trump says India will also reduce their tariffs and non-tariff barriers against the U.S. to zero and purchase more than a half trillion dollars of U.S. products. President Trump is set to launch Project Vault.
It's a new strategic critical mineral stockpile with $12 billion in seed money, most of which will come from the U.S. Export-Import Bank. The stockpile will include rare earths and critical minerals used in products like iPhones, batteries, and jet engines. Bloomberg's Joe Doe reports the private sector is already involved.
Some of the OEMs that are partnered with this, according to the reporting that we have out today, include Stellantis, GM, Boeing, just to give listeners an example of the types of companies that in the case of an emergency would need things like gallium, things like cobalt. The idea is to reduce U.S. reliance on China. A U.S.
judge has ruled a wind farm off New York's Long Island can resume work halted by the federal government. The judge ruled that the Sunrise Wind Project, which was losing $2.5 million a day while it sat idle, would be irreparably harmed unless work was allowed to continue during the legal fight.
Data from the Institute for Supply Management show manufacturing bounced back in January at its fastest pace since 2022. Bloomberg's Michael McKee. Manufacturing PMI at 52.6, that's up from 47.9. We were expecting a 48.5 reading, so expecting contraction and getting expansion. New orders is 57.1 from 47.4, so that's a big change. Production 55.9 from 50.9.
employment still contracting 48.1 but that's up from 44.8 so not as bad bloomberg's mike mckee and that gave wall street some optimism about corporate america the bloomberg dollar spot index about three tenths of a percent higher spot gold about four percent lower silver more than five percent lower we check these markets for you all day long here at bloomberg the s&p 500 up six tenths of a percent nasdaq up six tenths of a percent the dow up about 1.2 percent now
The 10-year Treasury yield at 4.27 percent and the two-year yield at 3.56 percent. Oracle plans to raise $45 billion to $50 billion this year through a combination of debt and equity sales to build additional cloud infrastructure capacity. Oracle shares more than a half percent lower. Disney shares are about 7 percent lower.
After the media company gave an outlook that analysts see as disappointing, Disney reported sales and earnings for the first quarter that beat expectations, but also gave a tepid outlook for growth in the current period. Atlanta Fed President Rafael Bostic says he did not project any interest rate cuts for 2026, warning that one or two cuts could derail progress on inflation.
And that would make it very unlikely if we did that for us to get our inflation back down to our target or even get it on trajectory to that. So I think this is a time to be patient. Bostick spoke at an event hosted by the Rotary Club of Atlanta.
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Chapter 3: How are Democrats responding to funding for ICE?
This is Bloomberg. As a place to do business, the UK stands apart. Not because of a single advantage, but a uniquely powerful combination of many. As one of the world's leading financial centres, the UK puts over Ā£10 trillion to work every day, fuelling innovation across every sector. Home to four of the world's top universities, it provides exceptional talent and breakthrough research.
This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism. Global connectivity with local depth. It all adds up to greater growth. Visit business.gov.uk slash growth.