Stocks Open Mixed, DHS Pulls 700 from MN, Trump Speaks with Xi
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News when you want it with Bloomberg News Now. I'm Nathan Hager. Wednesday morning trading is underway on Wall Street on a very busy morning for earnings. That is the sound of the opening bell from the floor of the New York Stock Exchange. And at the open, the S&P 500 is just a bit higher, up about a tenth of 1%, trading above 6,900. The Dow Jones Industrial Average is up about a third of 1% at the open, up about 180 points. and the Nasdaq composite opens in the red, down two-tenths of one percent. We'll get more on the market in a moment, but we have breaking news in Minnesota, where the Trump administration is removing 700 immigration enforcement agents from Minneapolis, effective immediately. White House borders are Tom Holman made the announcement in a news conference this morning.
My goal with the support of President Trump is to achieve a complete drawdown and end this surge as soon as we can. But that is largely contingent upon the end of the illegal and threatening activities against ICE and its federal partners that we're seeing in the community.
Border Czar Tom Holman is citing expanded cooperation in local jails for this drawdown. It comes a day after President Trump signed a bill to reopen the government with less than two weeks of funds for Homeland Security to allow for more time to negotiate new limits on ICE officers. Bloomberg's Lauren Dozenski has more from Washington.
This tricky question of what is the path forward on immigration is not exactly something that is easy, nor is the path forward all that clear. And so the lawmakers that have between now and next Friday to hammer out a deal really are up against not only the clock, but also the massive impacts between the two sides.
Bloomberg's Lauren Dozenski in Washington, where President Trump reportedly held a phone call this morning with Chinese President Xi Jinping. That's according to a report from China's Xinhua News Agency, though it doesn't give details. The two leaders are set to meet in Beijing in April. She had a phone call earlier today with Russian President Vladimir Putin, where they touted their political and economic ties. Trilateral talks on ending Russia's war in Ukraine are underway in Abu Dhabi. Bloomberg's Greg Sullivan is there.
In one sense, it is notable that the two sides are sitting down face to face after talks last month. What progress, if any, that has been made is unclear. There's not a lot that is known. We do know that they plan to discuss technical parameters around, military parameters around what would happen if there was a ceasefire. But to get to a ceasefire still remains quite distant, knowing that the biggest issue, Moscow's demands for territory in the east, remain unresolved.
Bloomberg's Greg Sullivan reporting from Abu Dhabi. Iranian semi-official media are reporting the U.S.
How did the stock market perform at the opening bell?
and Iran will hold indirect talks in Oman on Friday. Iran had been pushing for a change of venue from Istanbul. Bloomberg's Patrick Sykes is there.
It's not clear why they might not be keen on Turkey, but it is worth saying Oman has been a mediator, a host of talks before. So perhaps they simply felt that was more comfortable.
Bloomberg's Patrick Sykes reports Iran is also saying the talks will be limited to its nuclear program and sanctions relief. This, as activist groups now say the number of people arrested in Iran's protest crackdown has topped 50,000. Turning back to the markets, as I said, it has been a busy morning for earnings, but there is still a lot of focus on AI disruption after the release of Anthropic's new Claude Cowork model. Matthew Bloxham covers tech for Bloomberg Intelligence.
Trigger, if you like, yesterday was the announcement on their site of a new agent, AI agent for legal profession.
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