On today's podcast:

 
1) President Donald Trump sowed chaos in metals markets by indicating the US would implement a higher-than-expected 50% tariff on copper imports, spurring a record spike in New York futures and a drop in the global benchmark.


2) Greg Abbott says authorities believe at least 161 people may still be unaccounted for in Kerr County, which was hit by devastating floods over the Fourth of July weekend.


3) Apple Inc. Chief Operating Officer Jeff Williams is retiring as the company’s longtime No. 2, marking a major changing of the guard at an already tumultuous time for the iPhone maker.

On today's podcast:
&nbsp; 1) President Donald Trump sowed chaos in metals markets by indicating the US would implement a higher-than-expected 50% tariff on copper imports, spurring a record spike in New York futures and a drop in the global benchmark.
 2) Greg Abbott says authorities believe at least 161 people may still be unaccounted for in Kerr County, which was hit by devastating floods over the Fourth of July weekend.
 3) Apple Inc. Chief Operating Officer Jeff Williams is retiring as the company&rsquo;s longtime No. 2, marking a major changing of the guard at an already tumultuous time for the iPhone maker.

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

Trump Unleashes Turmoil in Copper Markets; Search for Missing in Texas Continues

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/665ef5b4-3bc3-4a17-aede-b315009ad5b2/transcript

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) Amazon.com shares tumbled in premarket trading on Friday after the e-commerce and cloud-computing company’s $200 billion annual capex forecast is much higher than expected, underlining concerns about how much big tech companies are spending on AI-related investments and when they will pay off. The company reported spending roughly $130 billion on property and equipment in 2025. Analysts anticipated those expenses would reach about $150 billion this year. Chief Executive Officer Andy Jassy said the money “predominantly” would go toward the company’s Amazon Web Services cloud unit, and most of that spending would be for AI workloads.
2) Bitcoin whipsawed in a volatile trading session after a selloff that briefly dragged the token to a more than 50% retreat from its October peak. The original cryptocurrency rose as much as 5.8% on Friday and traded around $64,800 at 9 a.m. in London. Earlier in the session, it came close to falling below $60,000 for the first time since October 2024. Cryptocurrencies have been on shaky ground ever since a brutal series of liquidations in October that sapped market confidence. The selling picked up steam this week in line with the unwinding of leveraged bets and broader market turbulence. 
3) President Trump called for the creation of a new nuclear arms treaty with Russia, as the existing New START agreement between the two nations expires and fuels concern about the possibility of a new arms race. The pact — formally known as the New Strategic Arms Reduction Treaty — built on efforts to reduce the nuclear weapons arsenals amassed during the Cold War. The deal expired on Thursday, raising the possibility that the US and Russia could potentially pursue new nuclear weapons unhindered by any diplomatic agreement while geopolitical tensions between Washington and Moscow rise.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Amazon.com shares tumbled in premarket trading on Friday after the e-commerce and cloud-computing company&rsquo;s $200 billion annual capex forecast is much higher than expected, underlining concerns about how much big tech companies are spending on AI-related investments and when they will pay off. The company reported spending roughly $130 billion on property and equipment in 2025. Analysts anticipated those expenses would reach about $150 billion this year. Chief Executive Officer Andy Jassy said the money &ldquo;predominantly&rdquo; would go toward the company&rsquo;s Amazon Web Services cloud unit, and most of that spending would be for AI workloads. 2) Bitcoin whipsawed in a volatile trading session after a selloff that briefly dragged the token to a more than 50% retreat from its October peak. The original cryptocurrency rose as much as 5.8% on Friday and traded around $64,800 at 9 a.m. in London. Earlier in the session, it came close to falling below $60,000 for the first time since October 2024. Cryptocurrencies have been on shaky ground ever since a brutal series of liquidations in October that sapped market confidence. The selling picked up steam this week in line with the unwinding of leveraged bets and broader market turbulence. 3) President Trump called for the creation of a new nuclear arms treaty with Russia, as the existing New START agreement between the two nations expires and fuels concern about the possibility of a new arms race. The pact &mdash; formally known as the New Strategic Arms Reduction Treaty &mdash; built on efforts to reduce the nuclear weapons arsenals amassed during the Cold War. The deal expired on Thursday, raising the possibility that the US and Russia could potentially pursue new nuclear weapons unhindered by any diplomatic agreement while geopolitical tensions between Washington and Moscow rise.

Amazon Selloff on Massive Spend; Bitcoin Traders Buy Dip

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/65e91bb5-ff26-445b-8f55-b3e900add63c/transcript

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) The Department of Homeland Security will immediately pull 700 officers from Minneapolis, a reduction of about a quarter, amid efforts to deescalate tensions after federal agents killed two US citizens. White House border czar Tom Homan, who President Trump sent to Minneapolis as part of an effort to ease pressure amid local outrage, emphasized a shift to more targeted enforcement after a surge of immigration agents sparked widespread protests. Homan also said cooperation with local authorities to detain immigrants with criminal records had improved. About 2,000 federal immigration agents will remain, down from the peak of the operation but still much higher than the roughly 150 officers that would be normal, Homan told reporters Wednesday.
2) President Trump sent a fresh warning to Iran’s leaders as US military forces amass in the region, even as diplomatic talks between Washington and Tehran were set for later this week. “I would say he should be very worried, yeah. He should be,” Trump said in an interview with NBC News on Wednesday, when asked about Iran’s supreme leader. Iranian Foreign Minister Abbas Araghchi said in a social media post Wednesday that talks with the US were scheduled to be held in Muscat, Oman on Friday morning. The US and Iran still plan to meet in Oman on Friday to discuss a nuclear deal, according to a White House official.
3) President Trump said he would have passed on Kevin Warsh as his nominee to lead the Federal Reserve if Warsh had expressed a desire to hike interest rates. The president said there was “not much” doubt the Fed would lower rates because “we’re way high in interest” but now “we’re a rich country again.” Trump’s comments could come up during Warsh’s confirmation process, where the Fed’s independence will likely be a central topic. Trump said he believed “in theory” that the central bank was an independent body, while saying he was a “smart guy” whose economic predictions should be considered. Republican Senator Thom Tillis, a member of the Banking Committee, has pledged to block any of Trump’s nominees to the institution until the Justice Department ends an investigation into the central bank’s renovation.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The Department of Homeland Security will immediately pull 700 officers from Minneapolis, a reduction of about a quarter, amid efforts to deescalate tensions after federal agents killed two US citizens. White House border czar Tom Homan, who President Trump sent to Minneapolis as part of an effort to ease pressure amid local outrage, emphasized a shift to more targeted enforcement after a surge of immigration agents sparked widespread protests. Homan also said cooperation with local authorities to detain immigrants with criminal records had improved. About 2,000 federal immigration agents will remain, down from the peak of the operation but still much higher than the roughly 150 officers that would be normal, Homan told reporters Wednesday. 2) President Trump sent a fresh warning to Iran&rsquo;s leaders as US military forces amass in the region, even as diplomatic talks between Washington and Tehran were set for later this week. &ldquo;I would say he should be very worried, yeah. He should be,&rdquo; Trump said in an interview with NBC News on Wednesday, when asked about Iran&rsquo;s supreme leader. Iranian Foreign Minister Abbas Araghchi said in a social media post Wednesday that talks with the US were scheduled to be held in Muscat, Oman on Friday morning. The US and Iran still plan to meet in Oman on Friday to discuss a nuclear deal, according to a White House official. 3) President Trump said he would have passed on Kevin Warsh as his nominee to lead the Federal Reserve if Warsh had expressed a desire to hike interest rates. The president said there was &ldquo;not much&rdquo; doubt the Fed would lower rates because &ldquo;we&rsquo;re way high in interest&rdquo; but now &ldquo;we&rsquo;re a rich country again.&rdquo; Trump&rsquo;s comments could come up during Warsh&rsquo;s confirmation process, where the Fed&rsquo;s independence will likely be a central topic. Trump said he believed &ldquo;in theory&rdquo; that the central bank was an independent body, while saying he was a &ldquo;smart guy&rdquo; whose economic predictions should be considered. Republican Senator Thom Tillis, a member of the Banking Committee, has pledged to block any of Trump&rsquo;s nominees to the institution until the Justice Department ends an investigation into the central bank&rsquo;s renovation.

Trump Orders Minneapolis Pullback; US-Iran Talks Set for Friday

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/86854a49-becf-496b-bd59-b3e800ac2883/transcript

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The partial US government shutdown ended late Tuesday after President Trump signed into law a funding deal he negotiated with Senate Democrats, overcoming opposition from both ends of the political spectrum amid a standoff over his administration’s immigration crackdown. Trump applauded the funding package as “a great victory for the American people” and stressed that the legislation continues to fund deportation flights, which have provoked backlash from Democrats. Still, a more limited funding lapse looms within days since the Department of Homeland Security is only funded through Feb. 13 while Trump negotiates with Democrats over their demands for new restraints on immigration enforcement agents. The rest of the government is funded through the Sept. 30 end of the fiscal year.
2) Iran has asked the US to move diplomatic talks originally planned for Turkey to Oman and to limit the agenda to the Islamic Republic’s nuclear program, according to people familiar with the matter. President Trump reiterated that the US and Iran are maintaining talks, even after an earlier skirmish in the Arabian Sea spooked oil markets amid heightened tensions between the two countries. “We are negotiating with them right now” and “they’d like to do something,” Trump told reporters at the White House Tuesday. Earlier Tuesday, a US F-35C warplane shot down a drone in self-defense as the unmanned aircraft “aggressively approached” the USS Abraham Lincoln with “unclear intent,” US Central Command said in a statement. CentCom said no American service members were harmed and no US equipment was damaged.
3) Former President Bill Clinton and his wife, former Secretary of State Hillary Clinton, will appear before a House committee investigating their ties to disgraced financier Jeffrey Epstein on Feb. 26 and 27, the panel confirmed Tuesday. A full House vote had been planned this week to hold the Clintons in criminal contempt if they continued to defy subpoenas in its inquiry into Epstein and his activities. The Clintons “have agreed to appear for transcribed, filmed depositions to face questioning as part of the investigation related to Jeffrey Epstein’s and Ghislaine Maxwell’s crimes,” the committee said in a statement posted on its website.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The partial US government&nbsp;shutdown&nbsp;ended late Tuesday after President&nbsp;Trump&nbsp;signed into law a funding deal he negotiated with Senate Democrats, overcoming opposition from both ends of the political spectrum amid a standoff over his administration&rsquo;s immigration crackdown. Trump applauded the funding package as &ldquo;a great victory for the American people&rdquo; and stressed that the legislation continues to fund deportation flights, which have provoked backlash from Democrats. Still, a more limited funding lapse looms within days since the Department of Homeland Security is only funded through Feb. 13 while Trump negotiates with Democrats over their demands for new restraints on immigration enforcement agents. The rest of the government is funded through the Sept. 30 end of the fiscal year. 2) Iran has asked the US to move diplomatic talks originally planned for Turkey to Oman and to limit the agenda to the Islamic Republic&rsquo;s nuclear program, according to people familiar with the matter. President&nbsp;Trump&nbsp;reiterated that the US and Iran are maintaining talks, even after an earlier skirmish in the Arabian Sea spooked oil markets amid heightened tensions between the two countries. &ldquo;We are negotiating with them right now&rdquo; and &ldquo;they&rsquo;d like to do something,&rdquo; Trump told reporters at the White House Tuesday. Earlier Tuesday, a US F-35C warplane shot down a drone in self-defense as the unmanned aircraft &ldquo;aggressively approached&rdquo; the USS Abraham Lincoln with &ldquo;unclear intent,&rdquo; US Central Command said in a statement. CentCom said no American service members were harmed and no US equipment was damaged. 3) Former President&nbsp;Bill Clinton&nbsp;and his wife, former Secretary of State&nbsp;Hillary Clinton, will appear before a House committee investigating their ties to disgraced financier&nbsp;Jeffrey Epstein&nbsp;on Feb. 26 and 27, the panel confirmed Tuesday. A full House vote had been planned this week to hold the Clintons in criminal contempt if they continued to defy subpoenas in its inquiry into Epstein and his activities. The Clintons &ldquo;have agreed to appear for transcribed, filmed depositions to face questioning as part of the investigation related to Jeffrey Epstein&rsquo;s and Ghislaine Maxwell&rsquo;s crimes,&rdquo; the committee said in a statement posted on its website.

Government Shutdown Ends; New Iran Negotiations

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/4e211e51-794d-40b1-9c03-b3e700ac5dd3/transcript

Trump Unleashes Turmoil in Copper Markets; Search for Missing in Texas Continues

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