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Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£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 after a three-day tech-led sell-off. Right now, the S&P 500 is up 1.1% or about 75 points. The Dow Jones Industrial Average is soaring by 1.6%, a gain of nearly 800 points. And the Nasdaq Composite is up 1% as well. But the tech jitters are still out there. Shares of Amazon are lower by 8%.
The e-commerce giant laid out plans for $200 billion in AI spending this year. That means four companies alone will spend $650 billion. Mandeep Singh is Global Head of Tech Research at Bloomberg Intelligence. kind of increases we are seeing. Probably Google is the only one who has earned it because their cloud revenue grew 48% and the infrastructure side actually was north of 50%.
And they're doing it at incremental margins of at least 30, 40% compared to an Amazon where the margins are going down Mandeep Singh with Bloomberg Intelligence. That amount of spending is more than any one company has shelled out in the last 10 years. Markets are also getting a lift from a jump in consumer sentiment from the University of Michigan survey.
Bloomberg's Michael McKee has those numbers. It's quite the difference from what we saw with the conference board, which showed a lot of confidence dropping across the country. In this case, the Michigan numbers go up 57.3 for the final read in the month of January. The current conditions index goes up to 58.3 from 55.5. And the expectations index is down only fractionally, 56.6 from 57.
And Bloomberg's Mike McKee says inflation expectations for the next year fell as well to 3.5%, though longer term they did rise. In Washington, Attorney General Pam Bondi says a key participant in the 2012 Benghazi attack is under arrest. Zubar Al-Bakash landed at Andrews Air Force Base at 3 a.m. this morning. He is in our custody. He was greeted by Director Patel and U.S.
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Chapter 2: What recent trends are affecting stock markets?
Attorney Jeanine Pirro. Pirro and Patel joined Attorney General Pam Bondi at the announcement this morning. The attack on the U.S. compound killed four Americans, including Ambassador Chris Stevens. Republicans at the time faulted the Obama administration for security lapses at that outpost. Iran says indirect talks with the U.S. aimed at easing tensions are off to a good start.
Foreign Minister Abbas Araghchi spoke with state television after his meeting with Oman's top diplomat, who also met today with U.S. envoys Steve Witkoff and Jared Kushner. Araghchi says both sides could agree to a framework on future talks over Iran's nuclear program. if the process continues on the same vein.
President Trump is facing bipartisan outrage for sharing a video on social media that depicted Barack and Michelle Obama as apes. The 62-second video appears to be from a conservative video about election conspiracies. that showed President Trump as king of the jungle and Democrats as jungle animals.
Republican Senator Tim Scott, who's black, posted on X that it's the most racist thing he's seen out of this White House. He wants the video taken down. Press Secretary Caroline Leavitt is dismissing the criticism as fake outrage. The Northeast is in for another blast of cold air this weekend, just in time for the Super Bowl. Bloomberg meteorologist Rob Carolin is with us.
Rob, is this another polar vortex? well it's the polar vortex directing cold air towards us from russia it's what we call cross polar flow air has come over the pole through canada and now being directed down towards the united states but the good news is rather than dropping kind of down towards the gulf and into uh the caribbean we had a 32 degree reading earlier this week on the north coast of
Cuba, first time in history that's ever happened. So it's not just the Northeast. And Bloomberg meteorologist Rob Carroll says New York could see another half inch of snow tonight before temperatures plunge tomorrow. With the wind chills, it could feel as cold as 15 below tomorrow night.
Getting back to the market, Atlanta Fed President Rafael Bostic is retiring from the central bank at the end of the month, but he's got some parting advice for his colleagues. You know, what I've learned is that we really don't want to have inflation. Once inflation gets entrenched in people's minds, it changes how the economy evolves.
And it's one of the reasons why I think that we need to keep our policy in a restrictive posture so that we get inflation back to 2%. That's paramount. Atlanta Fed. Chief Rafael Bostic spoke with Bloomberg's Michael McKee this morning. And Milan is getting ready to light the Olympic flame for the 25th Winter Games. Vice President J.D.
Vance met today with Italian Prime Minister Giorgio Maloney as part of his week-long visit. U.S. relations with Europe have been strained, but Maloney says they discussed the values that keep Italy and the U.S. together, as well as Western civilization. And that's news when you want it. With Bloomberg News Now, I'm Nathan Hager. This is Bloomberg. As a place to do business, the UK stands apart.
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