Stocks Jump, Trump Threatens Insurrection Act, Sixth Oil Tanker Seized, More
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What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Nathan Hager.
How did U.S. stock indexes open and which sectors led the market rally?
Thursday morning trading is underway on Wall Street with stocks making a comeback after two straight sessions of losses. That is the sound of the opening bell from the floor of the New York Stock Exchange. At the open, the S&P 500 is higher by six-tenths of 1%, trading close to 7,000. The Dow Jones Industrial Average opens up two-tenths of 1%, or about 100 points. And the tech-heavy Nasdaq Composite is leading the gains up nearly 1%, or more than 220 points. We'll get back to the markets in a moment, but we are following rising tensions in Minnesota. President Trump is now threatening to send the military against protesters after another federal officer-involved shooting in Minneapolis. Bloomberg's David Gura has details.
Last night around 7, a federal officer shot a man in the leg in Minneapolis. The Department of Homeland Security says that man, whom they've identified as a Venezuelan national who entered the U.S. without authorization... fled from a targeted traffic stop in his vehicle, crashed into a parked car, and then left the scene on foot. The scene then escalated. Some other folks got involved.
Bloomberg's David Gurra reports two people are accused of attacking that officer with a shovel and a broom handle. DHS says the officer fired in self-defense. This morning, President Trump posted on Truth Social he will invoke the Insurrection Act. if state officials don't stop protesters from attacking ICE agents. We're also following a developing story in the Caribbean. U.S. Southern Command has confirmed it's apprehended a sixth oil tanker accused of violating the Venezuela blockade. In an ex-post, the military says Marines and sailors boarded the Veronica overnight without incident under Operation Southern Spear. Oil prices continue to fall, with President Trump indicating he'll hold off on attacking Iran.
For now, Bloomberg Government's Mika Solner has more from Washington.
I was in the Oval Office with the president when he announced that an official from Iran initially contacted him. He did not specify who for security reasons, but killings are stopping. There will be no executions. And for right now, that has halted, I think, some of the tensions that the president and the threats that he was putting out there.
Bloomberg government's Mika Solner in the nation's capital, and right now both West Texas Intermediate and Brent Crude are lower by more than 4%. Denmark says it still has a fundamental disagreement with the U.S. over Greenland. That's after a high-level diplomatic meeting in Washington.
Why is President Trump threatening to invoke the Insurrection Act in Minneapolis?
Bloomberg's Oliver Crook has the latest from Brussels.
The sort of starting position for the Danes for Greenland is basically not in any material change to the status quo legally. They say that the framework that exists currently governing the relationship between the United States and Greenland between under this treaty from 1951, which is, again, gives very expansive powers to the United States in the way that it can sort of behave and deploy its troops and military operations within Greenland. They say that that is adequate to sort of secure the territory.
Still, Bloomberg's Oliver Crook reports that diplomatic stalemate has other European nations looking to boost their presence on the island. Germany is leading a NATO recon team tomorrow. France says its first team of soldiers is already there. President Trump told Reuters he has no plans to fire Fed Chair Jay Powell, but he's dismissing Republican criticism of the Justice Department's probe into the central bank over its building renovations. One of those critics... is House Financial Services Chairman French Hill. He says Fed independence doesn't mean the central bank is immune to scrutiny.
To try to criminalize it and threaten people with a grand jury over disputes about that construction, I just don't agree with that.
House Financial Services Chair French Hill tells Bloomberg Surveillance the subpoenas are a distraction from the president's economic agenda.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–0:06
2
How did U.S. stock indexes open and which sectors led the market rally?
0:06–2:26
3
Why is President Trump threatening to invoke the Insurrection Act in Minneapolis?
2:26–3:46
4
What happened during the federal officer-involved shooting and subsequent protests in Minneapolis?
3:46–5:21
Speakers
4 identifiedMore from Bloomberg News Now
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