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 Amy Morris. A federal judge has heard arguments on whether to halt Minnesota's immigration crackdown after two people were fatally shot by government officers. The state of Minnesota and the cities of Minneapolis and St.
Paul sued the Department of Homeland Security, arguing that the situation on the street is dire and requires the court to stop federal immigration enforcement actions. The lawsuit asks the judge to order a reduction in the number of federal law enforcement officers and agents in Minnesota and limit the scope of the enforcement operation. It is not clear when the judge might rule.
President Trump posted on social media that he will send White House border czar Tom Homan to Minnesota tonight. Trump says Homan will, quote, report directly to me. Laura Davison, Bloomberg News Deputy Washington Bureau Chief, says this opens speculation about the future of Homeland Security Secretary Kristi Noem.
Lots of chatter really going back several months about how long Kristi Noem may stay in that role. But there's a clear sign here that the administration, Republicans on the Hill are really not happy with how the use of force is happening in Minnesota. I'll also note that Noem and Holman have often been at loggerheads.
Laura Davis in Bloomberg News, Deputy Washington Bureau Chief on Bloomberg Surveillance. President Trump says he and Governor Tim Walz seem to be on a similar wavelength. Trump posted on social media that Walz called him this morning and was happy that Tom Holman, the White House border czar, was going to Minnesota. Trump says they'll talk again.
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Chapter 2: What recent legal developments are impacting immigration enforcement in Minnesota?
A recent poll shows a majority of voters disapprove of Trump's handling of key issues and his administration's immigration tactics. And Democrats have threatened to shut down the government unless Republicans strip funding for the Department of Homeland Security. with Senate Democratic Leader Chuck Schumer vowing to block a massive spending package. Bloomberg's Tyler Kendall.
The issue with that, though, is that any changes to the broader spending package would have to get kicked back down to the House and the Crown of Washington until February 2nd, which means that they would have to come back in early. And we're already starting to see some issues and delays on Capitol Hill related to the weather.
Now, even if that spending package is blocked, ICE has already been appropriated $75 billion through fiscal 2029. through the Republican spending package approved back in July. Schumer released a statement saying that the responsibility to prevent a shutdown is now on Senate Majority Leader John Thune.
The dollar fell to a four-month low at gold-topped $5,000 for the first time as the earnings season is picking up steam. We do check markets for you all day long here at Bloomberg. The S&P 500 up 0.6%, NASDAQ up 0.6%, the Dow up just about 0.5%, the 10-year Treasury yield at 4.2%, the 2-year yield at 3.59%, and spot gold shares are now more than 2% higher. Shares of CoreWeave are 9% higher.
NVIDIA investing another $2 billion in the cloud infrastructure company's stock to speed its effort to add more than 5 gigawatts of AI compute. By 2030, Bloomberg tech anchor Ed Ludlow has more.
NVIDIA is going to start offering its CPU, not its GPU, its CPU as a standalone offering, and CoreWeave gets to be first to deploy that. It's hard when it's both a technology and financing arrangement to move past the circular argument.
Bloomberg's Ed Ludlow reports NVIDIA has already agreed to buy more than $6 billion in services from CoreWeave through 2032. Natural gas in the U.S. surged by more than 20 percent. An estimated 12 percent of natural gas production in the U.S. has been knocked offline by that powerful winter storm. Natural gas prices hit the highest since December of 2022.
And right now, natural gas prices are 32 percent higher. Bloomberg meteorologist Rob Carolin says behind that winter storm is some bitter cold.
So those areas that had significant icing not going to thaw out today, not going to thaw out tomorrow. It looks like their temperatures stay below normal right through Friday.
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Chapter 3: How is President Trump's involvement affecting the situation in Minnesota?
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