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 surging after some solid economic data and with a bounce back in big tech. Right now, the S&P 500 is up nine tenths of one percent. The Dow Jones industrial average is six tenths of a percent higher and the tech heavy Nasdaq composite is surging one point three percent.
Those positive economic indicators, industrial production hit a nearly one year high in January. Business equipment orders rose more than expected in December, and new home construction hit a five-month high that month as well. Nadia Lovell with UBS says a slowing economy? Not in her forecast.
There is some weariness from some Fed members about potential pickup and inflation. I think once that happens throughout the spring month, then we think that that also would help the Fed position to start cutting rates again by the time we get to June. So hopefully the inflation story can move out of the way. markets.
Nadia Lovell is head of global equity strategy at UBS. White House economic advisor Kevin Hassett is blasting a study from the New York Fed that showed American consumers and businesses have borne almost 90 percent of the tariff burden.
It is true that we're seeing news stories that people say, well, we've held off on raising prices because of the tariffs, but we're going to have to now. I guess the question is, is everybody going to do that or are some people going to do that? And the people who do that, are they going to lose customers to the folks who don't? That's what happened last year.
I expect that's what's going to happen this year
National Economic Council Director Kevin Hassett told CNBC the report led to a lot of highly partisan news based on analysis that, in his words, wouldn't be accepted in a first-year econ class. The Fed is declining to comment. The Jeffrey Epstein files are back on the front burner in Washington.
Les Wexner, the 88-year-old retail mogul behind Victoria's Secret and other brands, has begun closed-door testimony about his relationship with the late sex offender who managed his money for decades. Bloomberg's Lauren Dozenski has more from Washington.
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Chapter 2: What recent economic data is driving stock market surges?
The interview that Stephen Colbert says CBS wouldn't let him air is taking off on YouTube. It's the late show host conversation with Texas Democratic Senate candidate James Tallarico. Do you mean to cause trouble? I think that Donald Trump is worried that we're about to flip Texas. Since that interview went online yesterday, it's racked up more than 5.3 million views.
Tallarico's campaign says it's raised $2.5 million. Colbert says CBS lawyers blocked him from airing the interview due to FCC fairness rules. The network says it advised Colbert he might have to give other candidates equal time. Oil prices are jumping after the latest round of talks between the U.S. and Iran. Both sides did report progress on a deal over Iran's nuclear program.
But Vice President J.D. Vance told Fox News the Iranians still aren't engaging on President Trump's red lines and that all options are still on the table. Golnar Motavali heads Bloomberg's Iran coverage.
The Iranians have said that they have a set of guiding principles on which they are going to work.
Chapter 3: What are the implications of the latest economic indicators?
And on that basis, they are going to exchange texts that could provide, again, a framework for a possible deal.
Bloomberg's Gulnar Motivali right now both West Texas Intermediate and Brent Cruder higher by more than three percent. Ukraine is accusing Russia of dragging things along after their latest round of Geneva talks ended just an hour and a half in. Bloomberg's Tony Halpin reports Russia may be trying to press ahead on the battlefield.
On the ground, there's not much evidence that Russia's made very great progress on the battlefield in recent months. There's some evidence that Ukraine, in fact, is pushing back quite hard at the moment.
Bloomberg's Tony Halpin reporting from Dubai. At the Winter Games in Italy, Michaela Schifrin is now a three-time Olympic champion. She took gold in the women's slalom for her first medal at the Games in eight years. Norway leads the overall medal count with 32. Team USA is in third with 24, seven of them gold.
Madison Square Garden Sports is considering spinning off the New York Knicks and Rangers. Bloomberg's Randall Williams reports the company's board approved a plan that could make it easier to bring in investors to both teams.
You look at the enterprise value. Of the Knicks and Rangers and what they're traded at, it's $7 billion. But you look at what the Lakers sold for a loan, $10 billion. And I think the Knicks obviously are in a larger market than New York. The Lakers have won more titles. But New York is New York.
And so both the Knicks and the Rangers, I think, would carry a tremendous value, maybe $12 billion combined. And that's on the low end.
That's Bloomberg's Randall Williams. Shares of Madison Square Garden Sports are surging. They're up 15.5%. 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. Not because of a single advantage, but a uniquely powerful combination of many. As one of the world's leading financial centres, the UK puts over Ā£10 trillion to work every day, fuelling innovation across every sector. Home to four of the world's top universities, it provides exceptional talent and breakthrough research.
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Chapter 4: How is Kevin Hassett responding to tariff burden studies?
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going.
From Brussels, I'm following the politics, policy and the people shaping the European Union right now.
And from London, I'm looking at what all that means for markets, money and the wider economy.
We've got reporters across Europe and around the globe feeding in as stories break.
So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens.
It's smart, calm and to the point.
And it fits into your morning.
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