Wall Street With Little Movement, More ICE Controversy, More
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News when you want it with Bloomberg News Now, I'm Dan Schwartzman. Markets finishing the day mixed with little change as the Dow gained a tenth of a percent, the Nasdaq lost two-tenths of a percent, while the S&P 500 finished the day essentially flat. Meanwhile, consumer prices rose just two-tenths of a percent in January, the lowest gain since July, while the core reading that leaves out food and energy came in where economists expected. Money markets priced in 63 basis points worth of Fed reductions in 2026, bolstering bets for as many as three rate cuts this year. Two federal immigration officers have been placed on administrative leave after a joint review found sworn testimony contradicted video evidence in a Minneapolis shooting case.
The officers could face termination and potential criminal prosecution for lying under oath, which is a serious federal offense. A review by Immigration and Customs Enforcement and the Department of Justice revealed that sworn testimony provided by the two officers appear to contain untruthful statements. Rocket and satellite maker SpaceX is considering a dual-class share structure in its planned IPO, which will give select shareholders stock with extra voting power, which would allow them to dominate decision-making. The move would also allow insiders such as founder Elon Musk to maintain control of the company, even with a minority stake. SpaceX is seeking to hold an IPO later this year in a deal that could raise as much as $50 billion to fund artificial intelligence data centers in space and a factory on the moon.
President Trump speaking to reporters outside the White House earlier today discussing inflation, Iran, as well as a current relationship between the U.S. and Venezuela.
Well, we have a very good relationship with the president of Venezuela. As you know, we're working together very closely. We have our big oil companies going in. They're going to be taking out the oil and selling the oil for a lot of money. And Venezuela is going to get a big part of that money. And the relationship we have right now with Venezuela is, I would say, a 10.
That's President Trump. Despite Republican Senator Tom Tillis holding firm in his vow to block any vote for federal chair until the Justice Department's probe into the Fed's renovation of its headquarters is completed, Treasury Secretary Scott Besson said he expects a hearing on former Fed Governor Kevin Warsh's nomination to lead the central bank to still take place. Tillis, speaking to Bloomberg TV at the Munich Security Conference, says he isn't going to allow a vote to happen.
I have no intention of allowing any Fed board nominee to move forward out of committee and to be confirmed until this matter is settled. Look, this is foundational to Fed independence, and I, for one, am going to stand on the side of certainty, and Fed independence is what delivers certainty in our markets.
That's Republican Senator Tom Tillis speaking to Bloomberg TV at the Munich Security Conference. Goldman Sachs' top lawyer Kathy Rumler is leaving her position on June 30th after a months-long saga over her previous association with Jeffrey Epstein. In documents released by the Department of Justice, it was revealed that Rumler had accepted tens of thousands of dollars in gifts from Epstein and had used affectionate nicknames in their interactions. Goldman Sachs CEO David Solomon continued to defend Rumler.
You know, we've worked very closely with Kathy over the last six years. The management team's worked very, very closely with her.
How did consumer prices and Fed rate cuts impact the market?
We know her as a professional and we know her as a human being. And I think that's lost sometimes in some of the dialogue and some of the media reporting around all this.
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