Stocks Open Higher, Trump to Send Homan to Minnesota, More
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News when you want it with Bloomberg News Now. I'm Nathan Hager. A new trading week is underway on Wall Street, and it will be a busy one with big tech earnings and a Fed decision coming in a couple of days. That's the sound of the opening bell from the floor of the New York Stock Exchange. And at the open, stocks are modestly higher. The S&P 500 is up about a tenth of 1%, a gain of about 10 points. The Dow Jones Industrial Average opens about two-tenths of one percent higher, about 100 points up, and the Nasdaq Composite with a gain of a tenth of one percent. We'll get back to the market in a moment, but we are following new developments in Minnesota, where President Donald Trump may be trying to get ahead of a volatile situation in Minneapolis.
In a Truth Social post this morning, the president said he is sending his border czar, Tom Holman to Minnesota tonight as the president faces growing unease within his own party after the shooting death of Alex Preddy in Minneapolis over the weekend. Bloomberg's Marty Schenker has more.
The polling is showing, you know, immigration was always one of Trump's strong suits with the public. But this is what's happening in Minneapolis is clearly disturbing many Americans. And his polling numbers on immigration are dropping like a stone.
Bloomberg's Marty Shanker reporting White House spokeswoman Caroline Leavitt posted on X that Holman will manage ICE operations on the ground and federal agents will continue arresting the worst of the worst, she says. Leavitt also says Holman will coordinate investigations into alleged fraud involving Minnesota state funds. But following the killing of Alex Preddy over the weekend, the incoming CEO of Target is acknowledging what he calls the incredibly painful violence in Minneapolis. Michael Fidelke posted a video message to employees today saying, right now, as someone who is raising a family here in the Twin Cities and as a leader of this hometown company, I want to acknowledge where we are.
He says the violence and loss in life in the community is incredibly painful, weighing heavily on many across the country, as it is with me, end quote. The controversy surrounding Alex Preddy's killing is also raising the risk of a possible government shutdown in Washington. Bloomberg's Tyler Kendall explains.
The Senate is right now considering six spending bills that would fund the government for the rest of the fiscal year. One of those in part funds the Department of Homeland Security. And Democrats now want to see some of that funding stripped out. The issue with that, though, is that any changes to the broader spending package would have to get kicked back down to the House and the Crown of Washington until February 2nd, which means that they would have to come back in early. And we're already starting to see some issues and delays on Capitol Hill related to the weather.
That's Bloomberg's Tyler Kendall reporting from Washington, D.C. Speaking of the weather, the massive winter storm that blew through much of the country is over, but bitter cold remains. Bloomberg's Miles Miller is in New York's Central Park, where they got about a foot of snow.
New York City is experiencing its coldest multi-day stretch in eight years.
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