Bloomberg News Now: Supreme Court Tariffs, Election Wins, and Apple-Google AI Deal

Market Performance and Tech Deals

• 📈 Wall Street saw stocks rise, with the S&P 500 gaining 25 points, NASDAQ up 151, and the Dow increasing by 226 points.
• 🍎 Apple is reportedly finalizing a deal to use Google's 1.2 trillion parameter AI model to enhance its Siri voice assistant, with an annual payment of approximately $1 billion.

UPS Cargo Plane Crash Investigation

• ✈️ NTSB investigators are examining a fiery UPS cargo plane crash that occurred during takeoff from Louisville.
• ⚠️ The lift engine detached from the wing, and while the death toll is currently nine, officials fear it may rise.
• 📦 The cargo plane and nearby businesses were consumed by the fire.

Supreme Court Weighs Presidential Tariffs

• ⚖️ Supreme Court justices heard arguments regarding President Trump's global tariffs, questioning if they constitute an illegal tax.
• 🏛️ Justice Sotomayor and other conservative justices, including Chief Justice John Roberts, expressed skepticism about the president's authority to impose such levies.
• 📅 A decision on the legality of the tariffs is expected by mid to late December.

US Government Shutdown and Political Landscape

• 🚫 The US government shutdown has reached 36 days, making it the longest in history with no resolution in sight.
• 💸 Analysts estimate the shutdown costs the economy between $10 billion and $30 billion weekly.
• 🗣️ President Trump urged Senate Republicans to eliminate the filibuster, a proposal that has been dismissed by Senate Republican leader John Thune.
• 🤝 Senate Minority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries have requested a meeting with the president to discuss reopening the government.

Democratic Election Victories

• 🗳️ Democrats celebrated significant political wins, including the election of Zoran Mamdani as New York City's next mayor.
• 💼 Business leaders, including Jamie Dimon, are reaching out to Mayor-elect Mamdani to discuss the city's future.
• 📊 Centrist Democrats like Mikie Sherrill and Abigail Spanberger also secured victories by focusing on economic issues.