US and UK Strike Yemen’s Houthis; Wall Street Awaits Bank Earnings | Bloomberg Daybreak: US Edition

On today's podcast:

1) President Joe Biden faces the biggest test yet of his ability to avert a wider war in the Middle East following USled air strikes against Houthi rebels in Yemen () aimed at halting their campaign of attacks on shipping traffic in the Red Sea.

2) After a rally in global bank stocks at yearend, the largest US banks need to show results () that support their improved valuations.

3) After years of anticipation, the first US exchangetraded funds that invest directly in the biggest cryptocurrency have begun trading (). Billions of dollars changed hands Thursday and the token briefly surged past $49,000 () following the US Securities and Exchange Commission () decision to grant them approval after markets closed on Wednesday.

Full Transcript:

Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Oil is surging this morning. It's up about three percent, trading at seventy four dollars twenty three cents for a barrel of West Texas Intermediate. That's after the US and Allies launched more than sixty air strikes overnight on Houthy targets in Yemen. They're trying to stop the Iran back groups shipping attacks in the Red Sea. Bloomberg's Nick Watams has more on the challenges ahead for the White House. The challenge for Joe Biden is he said, they wanted to deter the Uthies, but they also don't want to ignite a wider war. And the question is whether the Huties will stand down let's see if somewhat unlikely, or use this as a rallying cry told me, pursue their aims both against Israel and CEC's firing Gaza and against the United States in the Dallies. Bloomberg's Nick Watams reporting the Hoothie say the attacks killed five of their members and wounded six others, and they are promising the strikes will not go unanswered. Well back here in the US, Nathan, closing arguments have been delivered and now oh, we wait for the judge's decision. And then. A New York civil fraud trial of former President Donald Trump and Bloomberg's Amy Morris reports New York Attorney General Letitia James is seeking three hundred and seventy million dollars in fines and to bar Trump from the New York real estate industry. No matter how powerful you are, no no matter how rich you are, that no one is above the law. Appeals are likely, but this case could end Donald Trump's role in New York real estate for good. Trump spoke out in court attacking the judge overseeing the case and Attorney General James. Later, he gave a press conference outside the courtroom. He's a political hack, the attorney general. The judge is obviously extremely friendly with the group the Attorney General's office, as Trump orchestrated a sweeping fraud in which he inflated his net worth to obtain favorable loans. The judge expects to rule by January thirty first, Amy Morris, Bloomberg Radio, Okaymie, thank you. Meanwhile, President Biden's son Hunter May face a trial of his own this summer, right in the middle of his father's reelection care campaign. Hunter Biden has pleaded not guilty to charges that he failed to pay taxes on millions of dollars in foreign business income that followed the collapse of a plea deal last year. The judge in Los Angeles says he's considering a June twentieth trial date. Well. Turning to the markets now, Nathan, we continue to watch bitcoin. Following yesterday's historic Wall Street debut, the first US exchange traded funds investing directly in the largest digital currency finally went live, and we get the latest from Bloomberg's John Tucker, John and Karen. The batch of almost a dozen funds, including offerings from investment powerhouses black Rock and Fidelity Investments, got off to a strong start with two point three billion dollars exchanging hands the gray Scale Bitcoin Trust, so the largest ever first date turnover for an ETF. Gray Scale Investment CEO is Michael Sonenshein is just such a historic moment, in such a milestone, So thrilled, feeling really good today black Rock ice Hears Bitcoin Trust saw a billion dollars change hands that's the fifth largest ETF launch on record. Several firms turn to fee waivers in a bid to stand out, offering their ETFs for free for the first six or twelve months. One of the next stages of Wall Street adoption it's going to be when options tied to these ETFs are approved. A bitcoing this morning down about half a percent to about forty six thousand dollars. John Tucker, Bloomberg Radio, all right, John, thank you. Another focus for investors this...