SCOTUS Appears Wary of Trump Fed Argument, Denmark Rejects Trump Bid to Take Greenland, More

33.275 - 50.306 Amy Morris

News when you want it with Bloomberg News Now. I'm Amy Morris. Supreme Court justices suggested they are wary of President Trump's efforts to fire Federal Reserve Governor Lisa Cook over unproven allegations of mortgage fraud. They say the move could upend the Fed's independence and rattle markets.

50.747 - 57.139 Amy Morris

Justice Brent Kavanaugh expressed skepticism of there being no judicial review of the actions of the president.

57.187 - 76.12 Unknown

Your position that there's no judicial review, no process required, no remedy available, very low bar for cause that the president alone determines. That would weaken, if not shatter, the independence of the Federal Reserve.

76.18 - 96.487 Amy Morris

The case is testing the Supreme Court's commitment to the independence of the central bank. The court so far has helped shield the Fed from Trump's efforts to seize control. This Cook case presents a new set of legal issues. President Trump says NATO should allow the U.S. to acquire Greenland. He told the World Economic Forum at Davos that it is, in his words, a small ask.

96.627 - 102.996 Donald Trump

I'm seeking immediate negotiations to once again discuss the acquisition of Greenland by the United States.

194.333 - 205.281 Jamie Dimon

It would be an economic disaster. And I'm not making up because our business, you know, we would survive it, by the way. In the worst case, you'd have to have a drastic reduction of the credit card business.

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Diamond says his firm will give a real analysis of the proposal to the government and that banks have argued an interest rate cap. would force lenders to drastically pull back on credit they provide to consumers. Wall Street's holding steadier after President Trump says he won't be using force to take Greenland. We'll check the markets for you. We do it all day long here at Bloomberg.

225.314 - 248.982 Amy Morris

The S&P 500 up 6 tenths of a percent. NASDAQ up 6 tenths of a percent. The Dow up 7 tenths of a percent. Ten-year Treasury yield at 4.27 percent. The two-year yield at 3.59 percent. And check out Netflix. Shares more than 4 percent lower. as spending is mounting amid its deal to buy Warner Brothers Discovery. Pending home sales plunged the most since the start of the pandemic.

249.302 - 266.288 Amy Morris

The National Association of Realtors says pending sales fell by 1.3 percent from the year before. That's a decline that was regionally broad and well below the lowest estimate in a Bloomberg survey of economists. It is not clear whether the December figure was a one-off or the start of a worsening trend.

266.268 - 288.035 Amy Morris

And a major winter storm is set to spread heavy snow and ice across a 2,000-mile stretch from the southwest to the east coast starting Friday. This storm is expected to cause dangerous travel conditions. With it will come life-threatening cold. The Washington Post says the storm's peak is expected Sunday. with a deep freeze affecting much of the country in the weeks to come.