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News when you want it with Bloomberg News Now. I'm Monica Ricks. President Trump went on a bit of a shopping spree this fall. Bloomberg's Ed Kalecki explains.
President Trump has continued his purchases of municipal and corporate debt this fall, including bonds of companies affected by his administration's policies. New disclosures posted Saturday by the Office of Government Ethics show that Trump's purchases of at least $82 million include bonds from Netflix, UnitedHealth Group, Boeing, MetaPlatforms, Home Depot, Broadcom, and Intel. of which the U.S.
government acquired a stake under his administration. Trump also purchased municipal bonds from U.S. cities and local school districts, utilities and hospitals. Ed Kalecki, Bloomberg Radio.
Leaders in Brazil say the tariffs are still too high. Goods like coffee, beef and tropical fruits like bananas and pineapples will still face a 40 percent tariff in the U.S., despite President Trump's recent move to reduce some import taxes. Brazil says it was an additional surcharge tacked on by Trump back in July, on top of the reciprocal tariffs he imposed in April.
That puts it at a disadvantage now against countries like Vietnam, whose coffee exports are now fully exempted. The U.S. government's still working to reschedule economic data releases impacted by the government shutdown, but there will be plenty for investors to watch for in the week ahead. Here's Bloomberg's Karen Moscow.
The week begins with a report on Empire Manufacturing and comments from Fed Governor Christopher Waller as well as New York Fed President John Williams. Tuesday, we get earnings from Home Depot and Wednesday, NVIDIA. Market expectations are high after NVIDIA recently became the first company to hit a $5 trillion market cap.
The Fed also releases minutes from its October meeting, shedding light on an unusual split among policymakers after a decision to cut rates by a quarter point. Thursday, we get existing home sales and earnings from Walmart, and consumer sentiment is out on Friday. Karen Moscow, Bloomberg Radio.
U.S. lawmakers are also set to discuss banning themselves from trading stocks this week. The House administration committee will meet on Wednesday to talk about it. Proponents of a ban say it would help boost Americans' trust in Congress, but the effort faces significant obstacles in both chambers.
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