Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Nathan Hager. Tuesday morning trading is underway on Wall Street with stocks in the green. 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 higher by two-tenths of one percent, a gain of 16 points.
Chapter 2: What are the latest stock market updates and trends?
The Dow Jones Industrial Average, the blue chip index, is down six-tenths of one percent at the open, but the tech-heavy Nasdaq Composite is higher by a half percent. We'll get back to the market in a very busy morning for earnings in a moment, but we want to start with the latest from Minneapolis, where changes are coming after two American deaths during immigration enforcement.
President Trump is sending his border czar, Tom Holman, to oversee the operation. Its current figurehead, Greg Bovino, is expected to leave Minneapolis as soon as today. Bloomberg's Alexander Pearson reports it's a shift in tone as well as strategy.
The Trump administration, Trump himself and his officials, were very defensive of immigration enforcement officials in the wake of the killing last weekend of Alex Preti. And ever since outcry has grown over video footage of that particular incident, they've come under huge pressure Also from some Republicans within Trump's own party.
Bloomberg's Alex Pearson reports more of those Republicans are calling for independent investigations into Alex Preddy's death. CBS News reports Homeland Security Secretary Kristi Noem is facing more White House scrutiny as well, but is likely to keep her job. The New York Times reports Noem met with the president for nearly two hours yesterday after asking for a meeting.
The Washington Post reports House Democrats plan to open an investigation into Noem as soon as next week with an eye toward possible impeachment. And the top federal judge in Minnesota has ordered the acting head of Immigration and Customs Enforcement, Todd Lyons, to appear this Friday to explain why he shouldn't be held in contempt.
The judge says the Trump administration has failed to comply with orders to hold hearings for detained migrants. All this could overshadow President Trump as he heads to Iowa this afternoon. Bloomberg's Kasia Klimashinska has that.
He is planning to focus his message on affordability, on economic issues. So that's also, of course, an effort to divert Americans away. attention to their grocery bills and what they pay at gas stations every day.
Bloomberg's Kasia Klimashinska reports the president had planned to focus on pocketbook issues at the World Economic Forum in Davos last week, but Greenland got in the way. Geopolitics still aren't far from mind. President Trump says the U.S. has a, quote, big armada headed to the Middle East because of Iran, but he says he hopes he won't have to use it.
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Chapter 3: What changes are happening in Minneapolis regarding immigration enforcement?
The president made those comments in a radio interview yesterday that aired this morning. And ICE agents are going to have a role at the upcoming Winter Games in Milan Cortina, Italy. Officials say federal agents will support diplomatic security details and not run any immigration enforcement. But it's prompted criticism from Milan's mayor.
He tells a local radio station ICE would not be welcome in his city. He calls the organization a militia that kills. Bitterly cold air still has its grip on much of this country, and that's going to give the power grid a workout. Bloomberg meteorologist Rob Carolin is tracking the weather map.
The Hudson River is already frozen north of Poughkeepsie, and how can I tell? I can see the snow cover on the satellite photos this morning.
Chapter 4: How is President Trump's administration responding to immigration issues?
So there's already parts of it that have started to freeze over. Delaware is a little further south. But if we stay cold into February, it's a possibility. Mississippi, it's definitely frozen in the upper Midwest.
Bloomberg meteorologist Rob Carroll. And now the country's biggest electric grid, PJM, has issued a grid emergency with demand at an all-time high for 67 million people from New Jersey into Chicago. FlightAware says nearly 2,000 flights have been canceled today. Another Arctic blast is in the forecast for later this week.
Turning back to the markets now, it has been a very busy morning for earnings. We're watching shares of UnitedHealth. They are sinking by 17.5%. The health insurer forecast a revenue decline for 2026, its first in more than three decades. The health insurance industry as a whole is getting dragged with the U.S. proposing flat payments to private Medicare plans next year.
That's got Humana shares down 19%. CVS Health is down more than 9.5%. General Motors is up 5% at the open. The automaker is projecting $2 billion in profit growth next year, thanks to big vehicles, less so because of electrics. But CEO Mary Barra says she's not done with EVs just yet.
The whole industry, we were on a path that we were working to get to 40 to 50% EVs by 2030. So now that the regulatory environment has changed and the consumer incentives have gone, there is going to be slower EV adoption.
GM's Mary Barra tells Bloomberg's Matt Miller that the company's also raising its dividend and doing a $6 billion stock buyback. We got earnings from American Airlines this morning. The carrier's projecting a strong year with more premium offerings to keep pace with rivals. But at the open, American shares are down 2%. And Boeing is lower at the open as well, down 1.7%.
The planemaker's turnaround does seem to be taking hold, though. They reported a 57% sales bump in the fourth quarter and a second straight period of free cash flow. Another Ivy League school is going tuition-free. Yale University says it will offer free undergrad tuition for families that earn less than $200,000 starting next fall. Students who earn less than $100,000 will get a full ride.
Yale joins Harvard and MIT with similar offers. That's news when you want it. With Bloomberg News Now, I'm Nathan Hager. This is Bloomberg.
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