On today's podcast:
1) Israel and Hamas extended their truce late Monday after agreeing to release more hostages and prisoners and Washington said it was dispatching its top diplomat to the region for more talks over the conflict in Gaza.

2) Elon Musk was in Israel being welcomed by the nation’s political elite — including Prime Minister Benjamin Netanyahu — to visit the region where the Islamic militant group Hamas murdered 1,200 people on Oct. 7.

3) European stocks fell for a second day and US futures pointed to a weaker open on Wall Street amid signs the November rally in equities is overstretched.

Full Transcript:
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. First, you want to get to the latest developments in the Middle East. Israel and Hamas have agreed to extend their truth. They will pause fighting until early Thursday. That brings the halt to six days, and we get the latest from Bloomberg's Rosalind Matheson. What we know is that this extension, which was somewhat expected, is likely to be under the same terms as we've seen so far, which is roughly, for every one hostage released by Harmas one Israeli hostage, that there's at least three Palestinian hostages released in turn by the Israelis. That's about a one for three exchange. What we do know is that those exchanges have happened so far every day in the truth, even if they've happened sometimes quite late in the day because there has been continued arguing through the day about some of the terms and conditions. Bloomberg's Roz Mathison says the truce comes as Secretary of Saint Anthony Blinken heads to Israel for the third time since the Hamas attack. Well, Nathan Elon Musk says he liked to help rebuild Gaza after the war with Hamas. The billionaire was in Israel yesterday and made the comments in a conversation with Israeli Prime Minister Benjamin Nettan Yahoo. Those who are intended motor must be neutralized. Then the propaganda must stop. That is training people to be murtorers in the future, and then and then making Gaza prosperous. And if that happens, I think will be good future. Well, I hope you will be involved in it, and I'd love to help and muss Israel Visit appears to be an effort to diffuse a growing backlash over his endorsement of an anti Semitic tweet. Last week. Corporations including Apple and Walt Disney stopped advertising on Eggs over concerns of increasing anti Semitism and hate speech on the site since he purchased it well Karen. The first of three US military relief flights carrying aid for the Gaza Strip is set to arrive in Egypt later today. Senior US official say the flights will carry winter clothing, food, medical items, and supplies specifically for children. This comes as the Biden administration seeks to escalate assistance to Palestinian civilians amid pressure from fellow Democrats. Well, Nathan ad to Israel is one of the issues of waiting lawmakers on Capitol Hill. The House is back in session today after the holiday break. Senate Majority Leader Chuck Schumer says he wants to vote as soon as next week on one hundred and six billion dollars in aid to Israel, Ukraine, and border security, but former Republican Congressman mcmulvaney says it'll be tough to pass it all before the end of the year because Congress is not facing a government shut down deadline by then. Typically big deals would get done at Christmas and again right before the August recess because that's when Congress wants to go home. Well, they don't have the sort of the sword of Damicles to hold over the members right now because the funding deals go beyond Christmas, and former Congressman mcmulvaney says Israel aid could pass alone before Christmas because it has bipartisan support. And he was guest on Bloomberg's sound On. Get the full interview on the sound On podcast. Well, meanwhile, Karen President Biden is cautioning corporations against taking advantage of inflation relief. We get that story from Bloomberg's Ed Baxter. President Biden has taken credit for easing supply chain pressures and lowering inflation, but says more needs to be done. Let me be clear, to any corporation that's not brought their prices back down, even as inflation has come down, even supply chains have been rebuilt, it's time to stop the price gouging. You've given the American consumer a break. Biden also says he set up a council review supply chain actions, calling it an early warning system. Head Baxter Bloomberg Radio, All right, Ed, thank you well. We turn to the markets now, and it's shaping up to be a November two remember. We get the latest from Bloomberg's John Tucker. John and Karen stocks have rallied more than eight percent, marking one of their strongest gains for the month since records began. Signs of slowing inflation and measured jobs growth have also unleashed a treasury rally, with scent yields tumbling for their highest and more than a decade, and those lower yields mean the dollar is headed for its steepest monthly drop in a year. There's a consensus that not only has the Fed stop raising interest rates, but investors are pricing in around ninety five basis points of rate cuts into the end of next year. Well, not everybody's on board with a bowl case. Strategists that city groups say underlying bullish signs from futures flows are starting to fade. I'm John Tucker, Bloomberg Radio. Okay, John, thanks, you got some news on the IPO market this morning. Sources tell Bloomberg Reddit is again holding talks with potential investors for an initial public offering for the social media company, and we get that story from Bloomberg's Charlie Pellett. Hope Folds aren't preparing for a long awaited reopening of the market for new listings, sources say. The San Francisco based firm, whose users help fuel the meme stock frenzy that made twenty twenty one a ban a year for equities, is weighing an IPO as soon as the first quarter. Bloomberg news last year that Reddit was working with Morgan Stanley and Goldman Sachs on the listing and was considering a valuation of as much as fifteen billion dollars in New York. Charlie Pellett, Bloomberg Radio, all right, Charlie, thank you well, fast fashion retailer. She and has filed confidential confidentially with US regulators for an IPO that could take place next year. Bloomberg News has learned the online retailer, which was founded in China's working with Goldman Sachs, JP, Morgan Chase and Morgan Stanley on the listing. She has come under fire for poor labor conditions and factories in partners with overproduction of poor quality garments and the use of cotton from a Chinese region accused of using forced labor. Futures this morning, little change nasday futures lower though down a tenth of a percent on about twenty two points ten year treasury down two thirty seconds you four point three nine percent, and a yield on the two years at four point nine zero percent. Straight ahead, we have more local headlines, plus check of sports, and this is Bloomberg and it is time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris Any Good morning, Good morning, Karen. Scandal plagued New York Republican Representative George Santos has acknowledged he expects to be expelled from the House as soon as this week. House Speaker Mike Johnson was asked if there would be a vote on the fate of mister Santos as soon as this week. We've spoken to Coxsman Santos at some length over the holiday and talked to him about his options, but we'll have to see. It's not yet determined. The latest blow came in the form of a fifty six page report from the Health Ethics Committee released earlier this month, outlining substantial evidence that mister Santos violated federal law. The Justice Department has charged Santo's with conspiracy, wire fraud, fallse statements, falsification of records, aggravated identity theft, and credit card fraud. Border security is a key part of a broader legislative deal that lawmakers want to complete before the end of this year, but lawmakers are not likely to include a pathway to citizenship for young immigrants protected by the Deferred Action for Childhood Arrivals program in the border deal wrapped in that conversation a national security funding request from the White House, including eight for Ukraine. Senate Majority leader Chuck Schumer. The biggest hold up to the national security supplement is an insistence by some Republicans, just some on partisan border policy as a condition for Ukraine aid. Senator Chris Murphy of Connecticut, a top Democratic negotiator in those talks, says wild Daka is a priority that Democrats would want to see included in the deal, it does not align with what Republicans want the final bill to look like. A Moscow court has extended the detention of US reporter Avan Gershkovich. Gershkovich was arrested in Russia earlier this year. He's accused of spying. Today's hearing was held behind closed doors, no press allowed inside. His detention will be extended through January thirtieth. Memorial service is being held in Atlanta for former First Lady Rosalind Carter, President Biden, First Lady Jill Biden, and other former First Ladies. Malania Trump, Hillary Clinton, and Laura Bush are all expected to attend services this afternoon on the campus of Emory University. Jimmy Carter is also planning to be there. Rosalind Carter rather Rosalind Carter Pardon me died on November nineteenth at the age of ninety six. Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Maybe Morris and this is Bloomberg Karen. All right, Amy, thank you what we do bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand whenever you want it. Just subscribe to Bloomberg News Now to get the latest headlines at a click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus Apples, Spotify, and anywhere else you get your podcasts. And it's time now for the Bloomberg Sports Update, and here's John stash Hour, John Karen Mother Night. Football in Minnesota, the Vikings lost their quarterback Kirk Cousins for the season, and their star windout Justin Jefferson, missed another game that's the seventh in a row, and their offense struggled. Their new quarterback, Joshua Dobbs, who had been playing well through four interceptions. He did throw a touchdown pass to TJ. Hockinson with under six minutes to go, the only TV of the night for either team. It put Minnesota ahead, but Cairo Santos with his fourth field goal of the game of thirty yard or ten seconds left, the Bears upset the Vikings twelve to ten, Chicago four and eight, Minnesota six and Sixes two and four at home NBA in Philadelphia, Joe Lmb thirty points a triple double, and the Sixers crossed the Lakers one thirty eight to ninety four. Lebron James has been playing for twenty one seasons. This is the most lopsided loss of his career. Rare win for the Wizards. They won one twenty six to one oh seven. At Detroit, battled the NBA's two worst team. The Wizards are three and fourteen and the Pistons are two and fifteen. Bruins lost at Columbus five to two. The Minnesota Wild fired their coach Dean Everson. Wild with only five wins in their first nineteen games. They're replacing him with John Hines. The former Nashville coach. Sonny Gray signed a deal with the Saint Louis Cardinals three years, seventy five million. He was the cy young runner uper in the American League with Minnesota. He's also pitched for Oakland, the Yankees, and Cincinnati. Outfielder Jason Hayward staying with the Dodgers a one year deal for nine million. John Stashie were with Bloomberg Sports. Karn all right, John, thank you, well, we want to get the latest out of the Middle East. We're going to be speaking with the Bloomberg's Simon Marx straight ahead. He is going to join us from Tel Aviv. And ahead of that conversation, futures again, our little change this morning. Nasdaq futures though lower, down to tenth of up percent, the Dacks in Germany also down to tenth of up percent this morning, and a ten year Treasury down two thirty seconds see of four point three nine percent. The yield on the two year four point nine zero percent. This is Bloomberg from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We continue to watch for further developments in the Middle East now at the ceasefire between Israel and hamas into overtime, and the expectation more hostages will be freed from Gaza in exchange for Palestinian prisoners joining us once again from Tel Aviv is Bloomberg, Simon Marx, Simon good morning. What is the expectation is it's still going to be one hostage for every three Palestinian prisoners, and that's how this is going to continue to go. Yes, that does seem exactly how it's supposed to go ahead. The Katari government has built out a statement very recently saying that the terms and conditions of this truce will be identical to what we've seen the previous four days. So that is going to take us through to Thursday morning here, so an extra two days, and we're going to see in the coming sort of forty eight hours whether that can be extended once again for another two days. Beyond that, there is some speculation that there could be another bit of wiggle room there. Do we know at this point or have we gotten any clue as to how many hostages could be released today? And whether there'll be any Americans on the list. Yes, so you know we're looking yes, the same as yesterday essentially, which was eleven off the hostages in return for thirty three or so Palestinian prisoners. That is the expectation there. Obviously weren't any Americans involved the last time round, but there is a lot of backchanneling going on to try and make sure that the US hostages do get out, although some sort of feel that, you know this, this will wait till the very last moment, obviously due to the relationship between Hamas and the US, and along with back channeling, it looks like there could be some more front channeling as well, with Secretary of State Antity blink and expected to arrive your way any moment. Now, what's the expectation for what the Secretary of State plans to do on this third visit to the region since the October seventh attack. Yes, indeed, so the Secretary of State has obviously been here multiple times. This time he's coming in towards the end of the week, we believe, and is going to focus on talks aimed at a more lasting, peaceful solution for the Palestinian territories. Of the Palestinian State. He will bring this up, whether or not he's going to get any traction. There is another question with Israel obviously planning to recommence their offensive in the Gaza Strip, and another focus of his will be to make sure more aid, more humanitarian cover is brought into the Gaza Strip. The UN have been very vocal, and you know right up into recent hours that more is needed, especially in the north of the strip where you have thousands of isolated people who haven't received much aid at all. It's interesting to hear a lot more talk now about what comes after, not just the ceasefire, but after the war itself. You mentioned Secretary of State Blincoln talking about a lasting solution to the crisis. We even heard from Elon Musko all people yesterday in Israel talking about wanting to rebuild in Gaza after the war is over. How much pressure is there on Israel right now to try to come to some kind of resolution of this crisis. There is a growing pressure, and I think there's a growing demand from partners from the Gulf, including the US, to understand what Israel's plan actually is. They haven't really expressed it. There is this notion obviously that the Netzenyahu government want to keep the West Bankcupied territories separated from the Gaza Strip. That obviously flies in the face of what the international community want in terms of a two state solution which would unify these two Palestinian territories. So there's so much to be ironed out, and I think that's probably some of the questions that Anthony Blincoln is going to want answers to when he arrives. Are we seeing that pressure Simon coming just from partners from the international community, or is Prime Minister Nettagna, who coming under some domestic pressure as well, got about a minute left. Well, yeah, obviously within Israel there is a quite a right wing government here at the moment. There are senior members of Nettaya who's Netanya whose cabinet, who are far on the right and very much against this idea of a two state solution and want to see a continued Israeli security presence inside the Gaza Strip. They have very little faith in any to come out of the Gaza Strip. So clearly Netanyahu's going to have to thread the needle here between what the international community wants and the pressures he's facing internally to be much more hardlined. Okay, Simon, thanks for this. We'll be checking back with you in the days and weeks to come. Simon Marks of Bloomberg News joining us this morning from Tel Aviv on day five now of the ceasefire between Israel and Hamas, with the expectation that more hostages will be released today in exchange for Palestinian prisoners out of Israel. This is Bloomberg Daybreak Today, your morning brief on the story's making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus listen coast to coast on the Bloomberg Business app. Seriusxmbiheartradio app and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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Middle East Truce Extended; Musk on Helping Rebuild Gaza

Bloomberg Daybreak: US Edition