Chapter 1: What is the main topic discussed in this episode?
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Find us on Apple, Spotify, or anywhere you listen. News when you want it with Bloomberg News Now, I'm Amy Morris. President Trump is in Michigan to promote his efforts to boost U.S. manufacturing. During a tour of a Ford factory in Dearborn, the president said car manufacturers are moving their plants to the U.S. from other countries.
You know, we don't need cars made in Canada. We don't need cars made in Mexico.
We want to make them here. And that's what's happening. Everybody's moving here from Canada. They're coming here from Mexico, from Japan, from Germany, from all over the world. They're coming here. They're opening up their plants.
Trump will also speak at the Detroit Economic Club at the Motor City Casino. You can hear the president's remarks live on Bloomberg Radio or watch on Bloomberg Television or the Bloomberg podcast's page on YouTube. President Trump posted on social media that he has canceled talks with Iranian officials amid a protest crackdown, telling Iranian citizens, quote, Help is on its way.
Trump did not offer details about what that help will entail, but has called on protesters to take over institutions in Iran and has repeatedly threatened Tehran with military action. Democratic Representative Pete Aguilar of California.
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Chapter 2: What did President Trump say during his visit to the Ford plant in Michigan?
Morgan CEO Jamie Dimon says the Justice Department's attacks on the Federal Reserve has the potential to undermine the independence of the central bank and possibly boost borrowing costs. JPMorgan Chase shares nearly 4% lower after Wall Street's biggest bank kicked off fourth quarter earnings season with mostly positive results. Herman Chen is a senior U.S.
banks analyst for Bloomberg Intelligence.
The beats were really strong, especially on the market side. Revenues on the markets trading side looks like it's up 17% year over year. That's higher than consensus and higher than what they had outlined at a recent investor conference. So really strong results there. Investment banking fees look a touchdown relative to expectations.
So that'll be a partial offset to really robust trading results.
Herman Chan with Bloomberg Intelligence says JPMorgan's investment banking fees fell unexpectedly, but the bank does expect more net interest income this year than analysts expected. And JPMorgan Chase led a slide in banks after those results. Traders driving stocks lower. We check those markets for you all day long here at Bloomberg.
The S&P 500 down 0.3%, NASDAQ down 0.2%, and the Dow down 0.6%. The 10-year Treasury yield at 4.16% and the 2-year yield at 3.52%. Inflation data failed to alter any bets on a pause in Fed rate cuts. The first full read on inflation since the government shutdown came in mostly where economists expected. Bloomberg's Michael McKee.
CPI monthly up 0.3%. Remember, there were no October numbers, so the November numbers Didn't get into this as a month-over-month thing, but the three-tenths translates into 2.7% year-over-year. Core comes in at two-tenths gain. That translates to a 2.6% year-over-year number.
Bloomberg's Mike McKee. Meta Platforms is looking to double production of AI-powered smart glasses to $20 million or more by the end of the year. Sources tell Bloomberg News the tech giant is discussing it with Ray-Ban's parent company. More from Bloomberg Tech host Ed Ludlow.
The Meta Ray-Bans have been even a surprise to the leadership at Meta. They never really thought that they would have the traction that they have. The demand is strong right now, such that if they can see the demand being sustained, what we're hearing is that for 2026, maybe even 30 million units
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Chapter 3: What is the significance of Trump's canceled talks with Iran?
Both people that had gone through the male puberty and had mitigated, it would also encompass others like that have not yet gone through puberty or that staved off puberty with the puberty blockers. Last February, President Trump issued an executive order which allows federal agencies to deny funding to schools that allow transgender athletes to compete on girls' or women's teams.
The man behind the Dilbert comic strip has died. Scott Adams had metastatic prostate cancer. Adams revealed his cancer diagnosis in May, posting on social media that the cancer had spread to his bones. Dilbert once appeared in 2,000 newspapers worldwide, capturing the absurdities of office life. In 2023, Adams faced backlash for racist remarks, leading to the strip's removal from syndication.
Scott Adams was 68 years old. That's news when you want it with Bloomberg News Now. I'm Amy Morris. This is Bloomberg.
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