Trump Says US Kills Tren de Aragua Leader, SpaceX IPO, More

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Bloomberg News Now 7 min 4 speakers 4 chapters transcribed 3 months ago

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0:00

The Big Take podcast from Bloomberg News keeps you on top of the biggest stories of the day.

Donald Trump 0:05

My fellow Americans, this is Liberation Day.

0:08

Stories that move markets. Chair Powell opened the door to this first interest rate cut. Impact politics. Change businesses. This is a really stunning development for the AI world. And how you think about your bottom line. Listen to The Big Take from Bloomberg News every weekday afternoon on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

Ed Kalecki 0:32

News when you want it, with Bloomberg News Now, I'm Ed Kalecki. President Trump says the US has killed the leader of the Tren de Aragua drug cartel, Nino Guerrero, in a strike that was coordinated with Venezuela. Trump designated the group as a terrorist organization as one of his earliest acts after returning to office last year. After starting in a prison in Venezuela over a decade ago, Tren de Aragua spread across Latin America. and entered the U.S. in part through its participation in human trafficking and undocumented migration. It has also involved in extortion, weapons trafficking, prostitution, illegal mining, robbery and kidnapping. Some of its senior leaders are thought to be outside Venezuela.

Ed Kalecki 1:11

SpaceX's first day on the stock market transformed the startup into one of the world's most valuable public companies, handed buyers of the IPO a 19% return and turned its founder Elon Musk into the world's first trillionaire. Yet the record-breaking $75 billion offering also accompanied something else and allowed for a sigh of relief not only for backers of Musk's company, but for an entire stock market that has been driven higher this year on optimism about the growth potential for artificial intelligence. SpaceX's embrace of AI with the acquisition of Musk's XAI in February made the listing somewhat of a referendum on the current leadership of the market as well as the IPO prospects of competitors Anthropic and OpenAI, both of which plan to go public as soon as this year.

Ed Kalecki 1:56

Jim Chanos, founder and president of Chanos & Company, discussed the Elon premium with Bloomberg.

Jim Chanos 2:02

This is the Elon premium. Is it Elon premium times two or Elon premium divided by two? Now you have another Elon hopes and dreams company with an even bigger valuation. And so does that double the value or does it basically say, OK, well, I'm going to pick one.

Ed Kalecki 2:18

Jim Chanos, founder and president of Chanos and Company. Wall Street wrapped up the week with gains for stocks. The story from Bloomberg's Charlie Pellett.

Charlie Pellett 2:26

The S&P 500 index was up this week by 0.7%, with hopes for a diplomatic breakthrough to end the war in Iran, lifting stocks as U.S. oil declined to settle below $85 a barrel. The U.S. said an interim peace deal that reopens the Strait of Hormuz and ends Iran's nuclear weapons ambitions looks increasingly likely and could be signed within days. Also giving a lift to sentiment was the SpaceX IPO, This week, the NASDAQ 100 index gained 2.3%, while the Dow this week was up by 0.7%. In New York, Charlie Pellett, Bloomberg Radio.

Ed Kalecki 3:04

The U.S.

What recent event did Trump announce regarding the Tren de Aragua leader?

Ed Kalecki 3:05

says an interim peace deal that reopens the Strait of Hormuz and ends Iran's nuclear weapons ambitions looks increasingly likely and could be signed within days, though conflicting messages between Washington and Tehran continue to cast doubt on that timeline. A senior Trump administration official briefing reporters Friday said... There was an 80 to 85 percent chance that an agreement gets signed soon, then added that some Iranian hardliners still want to kill any breakthrough. Those internal disagreements are being worked out. The deal would ensure Iran does not have a nuclear weapons program, but it would maintain a civilian nuclear energy program. It would also ensure enriched nuclear material is removed from the country and ends both sides' blockade of the Strait of Hormuz.

Ed Kalecki 3:46

Energy Secretary Chris Wright tells Bloomberg some oil is already flowing out of the Persian Gulf and exports will return to what the markets require when the war ends.

3:56

After this conflict, Iran can never play that card again.