Republican Sens Call for Noem to Step Down, Trump in Iowa, More

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What is the main topic discussed in this episode?

Doug Krisner 0:01
News When You Want It with Bloomberg News Now. I'm Doug Krisner. Two Senate Republicans are calling for the dismissal of Homeland Security Secretary Kristi Noem after two deadly shootings by immigration officers in Minnesota. Senators Lisa Murkowski and Tom Tillis both criticized Noem.

What prompted Republican Senators to call for Kristi Noem's dismissal?

Doug Krisner 0:18
Murkowski said Noem's rhetoric was not helpful when she said the person shot on Saturday, Alex Preddy, committed an act of domestic terrorism, while Tillis said he had no confidence in Noem.
Unknown 0:30
I think if no one looks at her body of work, I could not be. If I were in her position, I can't think of any point of pride over the last year. She's got to make her own decision or the president does, but she is taking this administration into the ground on an issue that we should own.
Doug Krisner 0:44
Earlier in the day, President Trump said he was not planning to remove Noem, saying she is doing a very good job and that the border is totally secure. President Trump is in Iowa today where he delivered a speech touting his administration's accomplishments on the American economy.
Donald Trump 1:01
So under my leadership, economic growth is exploding to numbers unheard of. They've never had them before in recent times. And now and we're just getting started. You know, the great, big, beautiful bill.

What were Senators Murkowski and Tillis' criticisms of Noem?

Donald Trump 1:13
which is no tax on tips, no tax on overtime, no tax on Social Security for our seniors. Do we have any seniors in here?
Doug Krisner 1:22
Now, President Trump's address comes on the same day he said he is looking to de-escalate the situation in Minnesota. Earlier, the president reshuffled the leadership running his deportation effort in the state. Borders are Tom Homan will now lead the immigration crackdown in Minnesota. He'll replace Greg Bovino, the U.S. Border Patrol commander who was previously leading this crackdown. And despite these changes, Trump denied he was going to pull back. Here is Trump speaking to Fox News.
Donald Trump 1:50
It's a little bit of a change. Everybody in this room that has a business, you know, you make little changes. You know, Bovino is very good, but he's a pretty out there kind of a guy. And in some cases, that's good. Maybe it wasn't good here. But you have to understand, when I watch some of the people that I've been watching over the last few weeks, these are paid insurrectionists.
Doug Krisner 2:08
President Trump speaking earlier on Fox News. Meantime, a man was tackled to the ground this evening after spraying an unknown substance on U.S. Representative Ilhan Omar at a town hall she was hosting in Minneapolis. Omar continued after the man was ushered out of the room. But just before the incident, Omar had called for the abolishment of U.S. Immigration and Customs Enforcement, and she called for the resignation of Homeland Security Secretary Kristi Noem. There were massive moves in the currency market today. The dollar sold off, suffering its largest one-day drop since April. President Trump said he did not think the value of the dollar had declined too much. We had the Bloomberg Dollar Spot Index dropping by more than 1%.
Doug Krisner 2:52
We move to company news next. After the bell, Texas Instruments gave a strong revenue forecast for the current period. This indicates demand for industrial equipment and vehicles is beginning to rebound. We got reaction from Jay Goldberg, senior analyst at Seaport Research Partners.
Jay Goldberg 3:08
So, Texan is a stock, a company that runs its stock deliberately boring.

How is President Trump defending Kristi Noem's performance?

Jay Goldberg 3:14
Like, they want to be as boring as possible. So, a little bit of a beat here is actually pretty significant. I don't want to overdo it, but it's good news, right? For Texan, you know, $100 million over expectations is a good number. EPS also looks a little bit higher than consensus, too.
Doug Krisner 3:30
Jay Goldberg, they're a senior analyst at Seaport Research Partners, shares in Texas Instruments up by more than 8% in late U.S. trading. Wall Street is bracing for a slew of big tech earnings over the next couple of days. Tomorrow, we'll hear from Tesla, Microsoft, and Meta Platforms.

What did Trump highlight in his speech during his Iowa visit?

Doug Krisner 3:47
Then on Thursday, Apple will report. Paisley Nardini is Portfolio Manager at Simplify Asset Management.
Paisley Nardini 3:55
the earnings that we're about to find out over the next 48 hours could be quite strong to the upside.

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