Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Amy Morris. There's your closing bell for this Tuesday on Wall Street where stocks fell as inflation data failed to alter any bets on a pause in Fed cuts. We'll get to that inflation data later. But first, let's check those closing numbers as we do each day here at Bloomberg. S&P 500 down 14 points. NASDAQ down 24 points.
Chapter 2: Why did stocks close lower despite inflation data?
The Dow is down 399 points. The 10-year Treasury yield at 4.17% and the two-year yield at 3.52%. And Netflix is working on revised terms for its Warner Brothers Discovery acquisition. It's discussing making its offer all cash for the purchase of the company's studios and streaming businesses. That's according to people familiar with those discussions.
The changes are designed to expedite a sale that will take months to close and has faced opposition both from politicians and rival bidder Paramount Skydance. We'll have more on the markets coming up, but first, President Trump threatening to stop federal payments to all sanctuary cities and their states.
Starting February 1st, we're not making any payments to sanctuary cities or states having sanctuary cities because They do everything possible to protect criminals at the expense of American citizens.
During a speech at the Detroit Economic Club, the president promoted his efforts to boost U.S. manufacturing. Earlier, during a tour of a Ford factory in Dearborn, the president called the North American trade agreement that he brokered irrelevant. saying that car manufacturers are moving their plants to the U.S. from other countries.
You know, we don't need cars made in Canada. We don't need cars made in Mexico. We want to make them here. And that's what's happening. Everybody's moving here. From Canada, they're coming here. From Mexico, from Japan, from Germany, from all over the world, they're coming here. They're opening up their plants.
President Trump also says he's canceled all meetings with Iranian officials amid a national crackdown on protesters.
I've canceled all meetings with the Iranian officials until the senseless killing of protesters stops. And all I say to them is help is on its way.
Trump did not offer any details about what that help would mean, but has called on protesters to take over institutions in Iran and has repeatedly threatened Tehran with military action. Democratic Representative Pete Aguilar of California.
The president... uh... does not have the authority to go in and this is part of this pattern uh... we don't know if this post is policy uh... but it's something that all of us are very uh... mindful of
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Chapter 3: What are Trump's threats to sanctuary cities?
Where nobody disputes that biological differences matter because it's necessary for fair competition, because where sports are concerned, men and women are obviously not the same.
Kathleen Hartnett is the lawyer for a transgender student who wants the Supreme Court to overturn those laws.
We represent the group of people that do not have an athletic advantage. Transgender women that have mitigated their biological advantage of being born male. Both people that had gone through the male puberty and had mitigated, it would also encompass others like that have not yet gone through puberty or that staved off puberty with the puberty blockers.
Last February, President Trump issued an executive order which allows federal agencies to deny funding to schools that allow transgender athletes to compete on girls' or women's teams. The Mike Tomlin era with the Pittsburgh Steelers is over. The longest-tenured head coach in major American professional sports stepped down a day after the end of his 19th season in Pittsburgh.
That's news when you want it with Bloomberg News Now. I'm Amy Morris. This is Bloomberg.
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