Northeast Braces for More Rain, Iran Holds Firm on Hormuz, More
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How is the nor'easter affecting the Northeast U.S. and what’s the forecast?
Hi, I'm Barry Rittholz, inviting you to join me for the Masters in Business podcast. Every week, we bring you conversations with the people who shape markets, investing, and business. I speak with CEOs, Nobel laureates, market innovators, and legendary investors. Whether you own stocks, bonds, real estate commodities, even crypto, these are discussions you absolutely need to hear. Subscribe to The Masters in Business Podcast on Apple, Spotify, or anywhere you listen.
News when you want it with Bloomberg News Now. I'm Monica Ricks. The East Coast is still getting slammed by a powerful nor'easter that's now killed at least one person in New York and caused widespread havoc in several states.
Potential landfall will be along the New Jersey shore, New York City, or Long Island before stalling and then looping back out to sea. Now this could take another forty eight hours and this means a prolonged period of very strong winds, heavy rain and damaging surf comparable to a tropical storm.
Tens of thousands of people have lost power in this storm and hundreds of flights have been grounded, mostly in Boston. Out west. Members of Hawaii's National Guard have been helping residents navigate flooded streets as heavy rain from Hurricane Nolo sweeps across the southern big island. This is the third hurricane to impact Hawaii in just the last few weeks. This morning police evacuated homes near a U.S. air base in England and arrested several men on suspected bomb offenses. No word if they're linked to this base, but American forces have been using it during the war in Iran. And the US and Iran appear to be back at square one now in their talks to reopen the Strait of Hormuz. But Tehran says it won't soften conditions after President Trump voiced rejection to its latest proposal.
Why is Iran refusing to ease tensions over the Strait of Hormuz after Trump’s remarks?
Bloomberg's Dan Williams has the latest from the Middle East.
It's worth remembering that at times when Trump himself has said there's no diplomacy going on, we later discovered that the backroom channels, the mediated channels, were still open. Uh, we assume that's still happening now. But I think Trump is in no mood to be played this kind of brinkmanship by the Iranians. The question is whether the economic pain he's feeling and whether a lack of alternatives, if indeed alternatives are not found in good time. will cause him to recalculate.
Bloomberg's Dan Williams reports high oil and gas prices will be a major factor for voters with just weeks to go before midterms. Still, Trump has promised to bring down prices once the war in Iran ends.
Oil will come dropping down as soon as Iran gives up, as soon as the war is over, which will be soon, oil is gonna come plummeting down and oil prices are coming down. But prices for groceries have come way down from Biden. Almost every price has come way down. And remember one thing, oil is less expensive now than it was under the Biden administration.
The President making that comment on his way to Chicago to attend the final round of the 2026 President's Cup. But the national average for regular gas was about $3.10 a gallon when President Biden left office in January of 2025. Ahead of elections, the world's richest man is ramping up political spending.
How could high oil and gas prices impact the upcoming U.S. midterm elections?
Bloomberg's Nathan Hager reports.
Election filings show Elon Musk's America PAC has spent $16.6 million to boost Republicans in Senate races in Iowa, Maine, Michigan, and Ohio. It's also spread $3.1 million across more than 30 competitive House races. But nowhere has Musk's PAC dropped more funds than in his home state of Texas. $6.3 million for Republican Ken Paxton in his Senate race against Democrat James Talleyrand. Rico. In Washington, I'm Nathan Hager, Bloomberg Radio.
The Trump administration said to release new fuel efficiency mandates tomorrow that'll roll back more stringent rules implemented under former President Biden.
737 MAX jets that could increase pilot workload during landing and delay the arrival of its latest narrow body models. Bloomberg's Ed Coleggi has details.
In a statement, Boeing says that last month it informed all 737 operators about a software issue where pilots may not have access to automated flight guidance during a specific landing scenario.
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Chapters
7 chapters
1
How is the nor'easter affecting the Northeast U.S. and what’s the forecast?
0:00–1:56
2
Why is Iran refusing to ease tensions over the Strait of Hormuz after Trump’s remarks?
1:56–3:20
3
How could high oil and gas prices impact the upcoming U.S. midterm elections?
3:20–4:51
4
What’s the scale and focus of Elon Musk’s political spending ahead of the elections?
4:51–5:54
5
What safety concerns have emerged with the Boeing 737 MAX software issue?
5:54–6:51
6
How is Saudi Aramco planning a gas‑division spin‑off and what could it mean for valuation?
6:51–7:23
7
Which economic data releases this week will shape market expectations?
7:23–7:43
Speakers
8 identifiedMore from Bloomberg News Now
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Nor'easter Batters East Coast, Iran Won’t Soften Demands, More
September 26, 2026: Trump Rejects Deal to Reopen Hormuz, East Coast Nor’easter, More
Trump Rejects Iran Proposal, Nor’easter Along East Coast, More
September 25, 2026: CNN Barred from Trump Trip, WSJ: Trump Rejects 7 Day Ceasefire, More