Oil Jumps As US Shoots Down Iran Drone, Shutdown Nears End, More
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What happened when the US shot down an Iranian drone?
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News when you want it with Bloomberg News Now. I'm Amy Morris. The U.S. has shot down an Iranian drone as it was approaching a U.S. Navy vessel. Bloomberg's Joe Matthews.
The Iranian drone was headed toward the aircraft carrier in the Arabian Sea. A U.S. F-35 warplane shot down the drone in self-defense.
Bloomberg's Joe Matthew on balance of power. U.S. Central Command released a statement saying the drone, quote, aggressively approached the USS Abraham Lincoln with unclear intent. No American service members were harmed, but oil prices jumped. WTI up 1.8 percent. Brent crude up 1.6 percent. A package to fund the federal government and end the partial government shutdown narrowly passed a key procedural vote today as the House prepares to take up the bill that would add restraints to the operations of immigration agents. Speaker Mike Johnson spoke about the Minnesota situation, raising those concerns.
The events there have been tragic and unnecessary. Some have complained that the force has been excessive or what have you. I don't know. Chaos is because, in large measure, the local and state officials in Minnesota have not been participating with federal law enforcement operations.
House Democratic Caucus Chair Pete Aguilar says the Democrats have leverage and they're going to use it.
We have more opportunities. We have more opportunities for leverage, not six months away, not in the next appropriation cycle, not September 30th. We have some opportunities to make our voices heard in the next 10 days.
Conservative hardliners have said they'll vote to advance the bill despite their misgivings about letting Democrats dictate the terms of the government funding package, which funds the Department of Homeland Security with a stopgap through February 13th. Walt Disney Company announced Josh DeMauro will succeed Bob Iger as CEO of the entertainment giant. Ending a three-year search to replace its long-serving leader, the Walt Disney Company chairman, James Gorman, sat down with Bloomberg's Ed Ludlow to talk about those leadership changes.
Bob will be working with him through 2026, guiding and mentoring and helping further develop him. Obviously, he laid out a vision for the board in the various discussions we had, which we had numerous ones. We really got to know Josh and all the other top executives.
Walt Disney Company Chairman James Gorman on Bloomberg TV. Disney shares now two-tenths of a percent higher. Wall Street traders drove the S&P 500 down from near record levels as chip makers wiped out an earlier rally. We check the markets for you all day long here at Bloomberg. The S&P 500 down more than one percent. NASDAQ down one and three quarters percent. The Dow down three quarters of a percent. The 10-year Treasury yield at 4.28 percent, the two-year yield at 3.58 percent. Novo Nordisk shares more than 1 percent lower after that company said its sales will likely drop this year as its blockbusters, Ozempic and Mugobi, face competition and the company gets hit by the government's push to cut drug prices.
PayPal shares 20 percent lower after showing a fourth-quarter profit miss. CEO Alex Chris is out after his turnaround plan failed to meet targets. Walmart shares are more than 3% higher as its market capitalization passed a trillion dollars for the first time ever. Walmart's strong performance led some market participants to wonder how much upside is left for those shares. PepsiCo shares are 4.5% higher after the company announced it would cut prices for Doritos and Lays chips by as much as 15% in a bid to lift sales by offering more affordable products. Builders are working on a plan for a massive program to develop up to a million homes to help address the U.S.
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