Chapter 1: What are the latest trends in the stock market?
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. Trading is underway on this Thursday morning. That is the sound of the opening bell from the floor of the New York Stock Exchange. And at the open, stocks are mixed. The S&P 500 is up just a tenth of 1% to start. The Dow Jones Industrial Average also just a touch higher by about a tenth of 1%.
And the Nasdaq Composite opens with a loss of one-tenth of 1%. It is a busy morning for the markets, but we begin in Minneapolis, where White House Border Czar Tom Homan is promising changes to aggressive immigration enforcement.
We will conduct targeted enforcement operations. Targeted. What we've done for decades.
Borders are Tom Holman spoke in a morning news conference from the Twin City after weeks of unrest following the killings of two U.S. citizens by federal immigration agents. We get more from Bloomberg's David Gurra.
A lot of what he focused on in his comments. With the conversations that he's had with local and state officials over these last few days, he pointed to points of agreement where they can kind of find a path forward, points of disagreement. The notion of what a sanctuary city is certainly a key one of disagreement there.
Bloomberg's David Gurra, Holman said he wants to scale down operations in Minnesota, but he says the Trump administration is not surrendering its fight against illegal immigration. Minnesota Senator Amy Klobuchar is jumping into the political fray.
I love the people of Minnesota. And Minnesota, I want to be a transformative governor.
Democrat Amy Klobuchar released that video announcing her campaign for governor this morning. While back in Washington, there may be progress on averting a government shutdown over the Minneapolis turmoil. Bloomberg's Tyler Kendall is following that.
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Chapter 2: What changes are being promised by White House Border Czar Tom Homan?
It's time to basically bring the Model S and X programs to an end with an honorable discharge. Because we're really moving into a future that is based on autonomy.
Elon Musk says Tesla will spend more than $20 billion this year on that future. And the shares at the open are down about a half percent. This morning, we got earnings from Dow Chemical. It's cutting about 4,500 jobs and planning to use AI to boost its earnings by at least $2 billion. But at the open, Dow is down more than 5%. Caterpillar reported an earnings boost from AI.
Those shares are up nearly 2%. Bloomberg's Dan Curtis has that.
Typically, I hear Caterpillar and I think of these big yellow tractors, but it actually makes equipment that's benefiting from the AI boom.
Bloomberg's Dan Curtis says that unit saw a 25%. profit jump last quarter. And Blackstone shares are down 3%. That company reported a surprise jump in earnings. The president, John Gray, says dealmaking has reached escape velocity. 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.
This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism. Global connectivity with local depth. It all adds up to greater growth. Visit business.gov.uk slash growth.
Donald Trump is rewriting the Washington rulebook and reshaping the global economy. If you're trying to connect the dots behind the headlines, Bloomberg's Trumponomics podcast is here to help. I'm Stephanie Flanders, head of government and economics at Bloomberg. Every week I'll bring you a smart, focused conversation with reporters and experts from Washington, Wall Street and beyond.
Listen to new episodes every Wednesday and follow Trumponomics wherever you listen.
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