Artificial Intelligence and Big Tech dominated market sentiment in 2025. Now, we look to what may come in the new year. In this episode, Nathan Hager speaks with Wedbush Managing Director and Senior Equity Research Analyst Dan Ives and Deepwater Managing Partner and Co-Founder Gene Munster. Ives and Munster offer their short and long-term outlook for the technology industry heading into 2026.

Artificial Intelligence and Big Tech dominated market sentiment in 2025. Now, we look to what may come in the new year. In this episode, Nathan Hager speaks with Wedbush Managing Director and Senior Equity Research Analyst Dan Ives and Deepwater Managing Partner and Co-Founder Gene Munster. Ives and Munster offer their short and long-term outlook for the technology industry heading into 2026.

Listen for today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

Listen for today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

Bloomberg Daybreak: US Edition

Daybreak Holiday: Big Tech Outlook with Dan Ives and Gene Munster

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/df8b3963-52d8-4b74-981e-b3c30103fca0/transcript

On today's podcast:
1) Covid-era subsidies that help Americans pay for Obamacare health plans will expire today. It will result in more than 20 million Americans paying higher premiums next month. Democrats have tried to extend the additional support beyond the December deadline, but Republicans have balked, citing the cost of some $350 billion over the next decade. Meantime, a handful of House Republicans have joined Democrats in a maneuver that will put a three-year extension of the subsidies to a vote next month. 
2) Russia and Ukraine struck each other’s Black Sea ports overnight, damaging infrastructure including an oil refinery. A drone attack on the Russian coastal city of Tuapse damaged a berth at the port and equipment at the local refinery, according to a statement from the emergency services. Fires at both sites were put out, while several residential buildings were also damaged. Two people were hospitalized. The Tuapse refinery, owned by Rosneft PJSC, has a processing capacity of about 240,000 barrels a day and produces mainly fuel oil, naphtha and diesel for export. In Ukraine, Russian forces struck the port city of Odesa, injuring at least six people and damaging residential properties and infrastructure, according to the local authorities. Some residents are without power, water and heating.
3) Israeli Prime Minister Benjamin Netanyahu says Iran should heed President Trump Warning's about not restarting its nuclear program. Speaking Tuesday to Fox News, he added that Iran is 'trying to' rebuild its missile capacity at new sites, and said he is aligned with Trump on wanting to give the new Syrian government a chance.

On today's podcast: 1) Covid-era subsidies that help Americans pay for Obamacare health plans will expire today. It will result in more than 20 million Americans paying higher premiums next month. Democrats have tried to extend the additional support beyond the December deadline, but Republicans have balked, citing the cost of some $350 billion over the next decade. Meantime, a handful of House Republicans have joined Democrats in a maneuver that will put a three-year extension of the subsidies to a vote next month. 2) Russia and Ukraine struck each other&rsquo;s Black Sea ports overnight, damaging infrastructure including an oil refinery. A drone attack on the Russian coastal city of Tuapse damaged a berth at the port and equipment at the local refinery, according to a statement from the emergency services. Fires at both sites were put out, while several residential buildings were also damaged. Two people were hospitalized. The Tuapse refinery, owned by Rosneft PJSC, has a processing capacity of about 240,000 barrels a day and produces mainly fuel oil, naphtha and diesel for export. In Ukraine, Russian forces struck the port city of Odesa, injuring at least six people and damaging residential properties and infrastructure, according to the local authorities. Some residents are without power, water and heating. 3) Israeli Prime Minister Benjamin Netanyahu says Iran should heed President Trump Warning's about not restarting its nuclear program. Speaking Tuesday to Fox News, he added that Iran is 'trying to' rebuild its missile capacity at new sites, and said he is aligned with Trump on wanting to give the new Syrian government a chance.

ACA Subsidies Set to Expire; Russia and Ukraine Trade Strikes on Black Sea Ports

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/942764c8-42f0-441b-84b8-b3c400abc98d/transcript

On today's podcast:   

1) President Trump’s campaign to end the war in Ukraine faced new complications on Monday when Russian President Vladimir Putin said he would revise his country’s negotiating position after the Russian leader claimed Ukrainian drones targeted his residence. Putin told Trump of his decision in a call Monday, according to the Kremlin, even as Kyiv cast the Russian allegations as a fabrication aimed at derailing the peace process. Trump addressed the dispute while speaking to reporters in Florida, saying that Putin had told him about the purported attack during their discussion. The US president, seeming to side with Putin, said he was “very angry.”   

2) President Trump expressed concern that Iran is moving to rebuild its nuclear capabilities and bolster its ballistic missile program after strikes by the US and Israel earlier this year, and threatened to target the country again to prevent Tehran from stockpiling weapons. “Now I hear that Iran is trying to build up again, and if they are we are going to have to knock them down,” Trump said Monday at his Mar-a-Lago resort in Florida as he met with Israeli Prime Minister Benjamin Netanyahu. The president also said he would support Israel in strikes if Iran continued with its ballistic missile program, which Netanyahu highlighted earlier this year as “existential” threat along with Tehran’s nuclear development.   

3) President Trump said the US struck a facility inside Venezuela, in what would be a significant escalation in its campaign against alleged drug trafficking operations there. Trump’s reference to an attack within Venezuela would mark the first time the US has announced a land strike in the country. The administration has raised pressure on the government of Nicolas Maduro by bombing boats in the region and implementing a blockade to disrupt the country’s oil exports. Separately, the US carried out another strike on an alleged drug boat in international waters on Monday, US Southern Command announced on X, sharing a 22-second video showing a vessel being destroyed in a fiery explosion. 

On today's podcast:&nbsp; &nbsp; 1) President Trump&rsquo;s campaign to end the war in Ukraine faced new complications on Monday when Russian President Vladimir Putin said he would revise his country&rsquo;s negotiating position after the Russian leader claimed Ukrainian drones targeted his residence. Putin told Trump of his decision in a call Monday, according to the Kremlin, even as Kyiv cast the Russian allegations as a fabrication aimed at derailing the peace process. Trump addressed the dispute while speaking to reporters in Florida, saying that Putin had told him about the purported attack during their discussion. The US president, seeming to side with Putin, said he was &ldquo;very angry.&rdquo;&nbsp; &nbsp; 2) President Trump expressed concern that Iran is moving to rebuild its nuclear capabilities and bolster its ballistic missile program after strikes by the US and Israel earlier this year, and threatened to target the country again to prevent Tehran from stockpiling weapons. &ldquo;Now I hear that Iran is trying to build up again, and if they are we are going to have to knock them down,&rdquo; Trump said Monday at his Mar-a-Lago resort in Florida as he met with Israeli Prime Minister Benjamin Netanyahu. The president also said he would support Israel in strikes if Iran continued with its ballistic missile program, which Netanyahu highlighted earlier this year as &ldquo;existential&rdquo; threat along with Tehran&rsquo;s nuclear development.&nbsp; &nbsp; 3) President&nbsp;Trump&nbsp;said the US struck a facility inside Venezuela, in what would be a significant escalation in its campaign against alleged drug trafficking operations there. Trump&rsquo;s reference to an attack within Venezuela would mark the first time the US has announced a land strike in the country. The administration has raised pressure on the government of&nbsp;Nicolas Maduro&nbsp;by bombing boats in the region and implementing a blockade to disrupt the country&rsquo;s oil exports.&nbsp;Separately, the US carried out another strike on an alleged drug boat in international waters on Monday, US Southern Command&nbsp;announced on X, sharing a 22-second video showing a vessel being destroyed in a fiery explosion.&nbsp;

Trump Ukraine Plan Wobbles; White House Warns Iran on Nuclear Program

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/e367ee7a-bfc4-4c2a-b112-b3c300adeb3d/transcript

On today's podcast:
1) President Trump said he made “a lot of progress” in talks with Ukrainian President Volodymyr Zelenskiy over a possible peace deal, but that it might take a few weeks to get it done and there’s no set timeline. The pair met at the US president’s Mar-a-Lago resort Sunday, where they had lunch and later spoke on the phone with a group of European leaders to brief them on their progress. Among the major sticking points left to be resolved: the future of Ukraine’s Donbas region, which is partially occupied by Russian forces. Trump told reporters the issue was still unresolved, but “getting a lot closer.”
2) President Trump has another high profile meeting on the docket at his Mar-a-Lago resort in Florida. He is scheduled to meet with Israeli Prime Minister Benjamin Netanyahu this afternoon. The two aim to boost a U.S.-brokered ceasefire in Gaza, which faces challenges as it looks to move into a more complicated second phase. That phase involves rebuilding Gaza under international supervision, creating an international security force and normalizing relations between Israel and the Arab world.
3) China kicked off military maneuvers around Taiwan that will include live-fire drills, a move that comes after the US announced one of its biggest arms packages ever for the self-run democracy. The exercises starting Monday would involve the army, navy, air force and Rocket Force, the Chinese military said in a statement. The exercises named “Justice Mission-2025” would “test the actual combat capability of theater troops in joint operations.” The People’s Liberation Army said in a separate statement that from 8 a.m. to 6 p.m. Tuesday it would hold live-fire exercises in five blocks around Taiwan, saying “any irrelevant vessel or aircraft is advised not to enter” the area.

On today's podcast: 1)&nbsp;President Trump&nbsp;said he made &ldquo;a lot of progress&rdquo; in talks with Ukrainian President&nbsp;Volodymyr Zelenskiy&nbsp;over a possible peace deal, but that it might take a few weeks to get it done and there&rsquo;s no set timeline. The pair met at the US president&rsquo;s Mar-a-Lago resort Sunday, where they had lunch and later spoke on the phone with a group of European leaders to brief them on their progress. Among the major sticking points left to be resolved: the future of Ukraine&rsquo;s Donbas region, which is partially occupied by Russian forces. Trump told reporters the issue was still unresolved, but &ldquo;getting a lot closer.&rdquo; 2) President Trump has another high profile meeting on the docket at his Mar-a-Lago resort in Florida. He is scheduled to meet with Israeli Prime Minister Benjamin Netanyahu this afternoon. The two aim to boost a U.S.-brokered ceasefire in Gaza, which faces challenges as it looks to move into a more complicated second phase. That phase involves rebuilding Gaza under international supervision, creating an international security force and normalizing relations between Israel and the Arab world. 3) China kicked off military maneuvers around Taiwan that will include live-fire drills, a move that comes after the US announced one of its biggest arms packages ever for the self-run democracy. The exercises starting Monday would involve the army, navy, air force and&nbsp;Rocket Force, the Chinese military said in&nbsp;a statement. The exercises named &ldquo;Justice Mission-2025&rdquo; would &ldquo;test the actual combat capability of theater troops in joint operations.&rdquo; The People&rsquo;s Liberation Army said in&nbsp;a separate statement&nbsp;that from 8 a.m. to 6 p.m. Tuesday it would hold live-fire exercises in five blocks around Taiwan, saying &ldquo;any irrelevant vessel or aircraft is advised not to enter&rdquo; the area.

Trump Praises Zelenskiy After Mar-a-Lago Talks; Trump and Netanyahu to Meet Today

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/2bb09fa3-b616-4903-a1f5-b3c200aceceb/transcript

Daybreak Holiday: Big Tech Outlook with Dan Ives and Gene Munster

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