Stocks and Bitcoin Rebound, Benghazi Suspect Arrested, More
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The UK stands apart as a place to do business, not because of one advantage, but many working together. Over £10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
News when you want it with Bloomberg News Now. I'm Nathan Hager. Stocks are staging a comeback from their worst three-day sell-off since April. Right now, the S&P 500 is up 1.4%. The Dow Jones Industrial Average is 1.8% higher. The Nasdaq Composite with a gain of 1.5%. Bitcoin is back above $69,000 after the biggest rout for cryptocurrency since the FTX meltdown. And software stocks that saw the brunt of the selling are climbing once again. But Amazon is still on the decline, down 8% on plans to spend $200 billion on the AI build-out this year. Bloomberg Opinion tech columnist Parmi Olson says there's still a question about when the AI payoff is going to catch up with all that spend.
It does feel like this is a gradual shift and we're seeing it continue to happen. And there's definitely going to be some kind of questioning in the market about whether they deserve these premium valuations when they are spending quite so much.
You can catch my full conversation with Parmi Olson of Bloomberg Opinion on the Bloomberg Daybreak U.S. edition podcast. A suspect in the 2012 U.S. Embassy attack in Benghazi, Libya, is in U.S. custody. Zubair al-Bakoush is facing murder, terrorism and arson charges over the attack that killed four Americans, including Ambassador Chris Stevens.
FBI Director Kash Patel. The world knows that if you kill an American citizen in an act of terrorism, we will hunt you down. We will bring you to justice. And you will face justice here in America.
FBI Director Kash Patel joined Attorney General Pam Bondi at a Washington news conference this morning. Bondi was asked if the FBI is taking the lead in the search for Today Show host Savannah Guthrie's mother, Nancy.
We're doing everything to assist the locals. We're working with the locals. Breaks my heart for Savannah and for her family.
Attorney General Pam Bondi.
What recent trends are we seeing in the stock market?
Nancy Guthrie was reported missing last Sunday from her home in Tucson, Arizona. Her family has pleaded with her possible kidnappers for proof she's alive. Authorities are looking into a ransom note that was sent to media outlets to determine if it's legitimate. In the UK, police are searching two properties linked to former U.S. Ambassador Peter Mandelson. It's part of their probe into his ties to Jeffrey Epstein. Authorities are investigating Mandelson for possible misconduct over documents that suggest he leaked market-sensitive information to the late sex offender 16 years ago. Prime Minister Keir Starmer is facing a political storm for appointing Mandelson and acknowledging that his Epstein ties came up in the vetting process.
President Trump is facing bipartisan outrage for sharing a video on social media that depicts Barack and Michelle Obama as apes. It came at the end of a 62-second clip that appears to come from a conservative video about election conspiracies. It shows the president as king of the jungle and Democrats as other jungle animals. The Senate's only black Republican, Tim Scott, is calling on the president to take the video down. He says it's the most racist thing he's seen from this White House.
How is Bitcoin performing after recent market fluctuations?
Democratic Governor Gavin Newsom of California calls it disgusting behavior by the president. White House spokeswoman Caroline Leavitt says the criticism is fake outrage. Iran says it has agreed to continue indirect talks with the U.S. to ease tensions over its nuclear program. A first round of discussions today wrapped up in Oman. Bloomberg's Kasia Klimashinska is following from Washington.
Oman met with the U.S. delegation led by Steve Witkoff. and then separately with representatives from Iran. But Iran also said before those talks even started that it won't be a major step, that those will be just some sort of broad talks.
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