Bloomberg News Now: Stocks Rebound, Trump's Drug Strike Plans, Fed Chair Timeline, and More

Market Performance and Cryptocurrency

• 📈 Wall Street staged a cautious rebound, with the S&P 500 gaining 17 points, the NASDAQ up 138 points, and the Dow increasing by 185 points.
• 💰 Bitcoin saw a significant rise, climbing more than 5% to hover around $91,000 after a previous day's decline.
• 📊 The ten-year Treasury yield closed at 4.9%, and the two-year yield at 3.51%.

US Drug Trafficking and Border Policy

• ⚠️ President Trump announced plans for the US to initiate strikes on drug traffickers on land, citing it as an easier and more known operation.
• 🚢 The White House defended the legality of its strikes on suspected drug boats, including a September strike that resulted in survivors.
• 🏛️ Key US senators are set to question Admiral Bradley regarding his role in ordering a second strike.

Domestic Policy and Economic Announcements

• 🍎 The Trump administration plans to withhold SNAP food aid from recipients in most Democratic-controlled states due to refusal to provide requested recipient information.
• 🏦 President Trump indicated he plans to announce his selection for the Federal Reserve Chairman in early 2026, mentioning Scott Bezzant as a potential candidate.
• 💸 Dell Technologies founder Michael Dell and his wife are donating $6.25 billion to the Invest America initiative, providing $250 to 25 million children aged ten and under.

Legislative and International Affairs

• 📜 House Republicans are debating the extension of Affordable Care Act subsidies, with Speaker Mike Johnson stating no commitment has been made yet.
• 🤝 Russian President Vladimir Putin met with US envoy Steve Wyckoff and Jared Kushner to discuss plans to end the war in Ukraine.
• 🇺🇦 Ukrainian President Volodymyr Zelensky is in Ireland, expressing readiness to meet with US counterparts if progress is seen in ongoing talks regarding territories and frozen assets.

Financial Regulation and Corporate Mergers

• 🏦 Fed Vice Chair Michelle Bowman stated she will work on establishing new rules for banks and stablecoins, while also highlighting efforts to finalize bank capital measures.
• 💡 The Fed is encouraging banks to innovate and improve products and services, working with regulators on stablecoin issuer regulations.
• 🎬 Comcast is exploring a merger of its NBCUniversal division with Warner Brothers Discovery, with Warner Brothers' board evaluating offers from three bidders.