Trump Backs Noem, Texas Gov Halts State H-1B Visa Hires, More
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News when you want it with Bloomberg News Now. I'm Amy Morris. We are watching for changes coming to President Trump's immigration crackdown. The president this morning said that he backs Homeland Security Secretary Kristi Noem. She's not going to step down. House Democrats say they'll work to have her impeached if Trump doesn't fire her. After the fatal shooting of two civilians by ICE agents in Minneapolis this month, even some of President Trump's strongest supporters are taking a step back. Texas Governor Greg Abbott blames Democratic leaders in Minnesota for the violence, but that the White House has to make some adjustments.
They, being the White House, need to recalibrate on what needs to be done to make sure that that respect is going to be reinstilled. And that's not an easy task.
Governor Abbott has also ordered all state agencies and public universities in Texas to immediately freeze new H-1B visa petitions saying that taxpayer-funded jobs should go to Texans whenever possible. Back in Minnesota, the chief federal judge has ordered the head of ICE to appear in court to explain why he should not be held in contempt. The judge said the Trump administration has failed to comply with orders to hold hearings for detained immigrants. Todd Lyons, the acting director of ICE, must appear personally in court this Friday to explain the violations of court orders. All of that's happening in Minnesota, but it risks drowning out President Trump's pivot to the economy, where he's in Iowa today to focus on affordability.
The president's making a stop at a local business and will deliver a speech in a suburb of Des Moines, with the trip also highlighting energy policy. Amazon says it's shutting down its Amazon Fresh and Amazon Go stores, some locations converting into Whole Foods market stores. Bloomberg's Ed Ludlow.
I don't know if you guys have ever been into an Amazon Go, but it's the humanless facility where it links your prime account. You just kind of pick up the items and leave and it detects it and charges. But they found scaling that tech very difficult. So that's the rebalancing of what was already a small footprint.
The company says it would work to help store employees find other jobs within Amazon. From December to even January...
We thought that there would be some improvement given the fact that the shutdown was over, but it seems not. Consumers are concerned about business conditions now and in the future. They're concerned about labor market opportunities now and also in the future.
What immigration changes is President Trump proposing with Kristi Noem?
And also they're concerned about incomes in the future.
The conference board survey finds fewer Americans expect their incomes to rise in the coming months. And the share of consumers that said jobs were currently hard to get was the highest since February of 2021. Shares of major U.S. insurers have tumbled after the U.S. proposed holding payments to private Medicare plans flat next year. A spokesman for insurance group AHIP says that could mean fewer benefits and higher costs for 35 million seniors and people with disabilities. Shares of UnitedHealth are now 20 percent lower. CVS shares falling 13 percent. Humana shares now down 19 percent. Wall Street traders sent stocks closer to all-time highs, but the dollar slid to a four-year low. We do check the markets for you all day long here at Bloomberg.
The S&P 500 is up 0.5%. NASDAQ up just about 1%. The Dow is down 0.8%. The 10-year Treasury yield at 4.23%. The 2-year yield at 3.59%. And the dollar spot index for Bloomberg is down 0.8%.
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