Bloomberg News Now: Trump-Xi Call, Judicial Appointments, Ukraine Peace Talks, and Ozempic Study Results

Market Performance and Economic Outlook

• 📈 Stocks closed higher at the start of the holiday-shortened week, with the Dow, Nasdaq, and S&P all showing gains.
• 📊 Traders are anticipating economic data releases and are optimistic about the Federal Reserve cutting interest rates next month.
• 💰 The ten-year Treasury yield stands at 4.03%, and the two-year Treasury yield is at 3.50%.

US-China Relations and Taiwan

• 📞 A phone call between President Trump and Chinese President Xi Jinping focused on the future of Taiwan.
• 🇨🇳 Xi Jinping urged Trump to maintain improved ties and emphasized Taiwan's return to China as part of the post-World War II international order.
• 🤝 The leaders agreed to expand cooperation and maintain positive momentum from their previous meeting in South Korea.
• 🕊️ Discussions also included Russia's invasion of Ukraine, with Xi expressing hope for a peace agreement.

Judicial Cases and Investigations

• ⚖️ A federal judge dismissed charges against former FBI Director James Comey and New York Attorney General Letitia James due to the illegal appointment of the prosecutor.
• 🏛️ U.S. District Judge Cameron McGowan Curry ruled Lindsey Halligan's appointment as interim U.S. attorney for the Eastern District of Virginia was unlawful.
• 🛡️ The Pentagon is investigating Democratic Senator Mark Kelly following serious allegations.
• 🇺🇸 Kelly urged Republicans to reject Trump's threats against him and other lawmakers who stated military personnel are not obligated to follow illegal commands.

Ukraine Peace Talks and European Assets

• 🤝 U.S. officials are hailing progress in efforts to end the war in Ukraine, with weekend talks in Geneva described as potentially the most productive so far.
• 🗓️ A Thursday deadline for Ukraine to accept a peace deal with Russia may slip into next week as both countries draft a revised framework.
• 🇪🇺 European leaders are discussing how to utilize approximately €140 billion worth of Russian assets held in Belgium, with ongoing debates about unlocking proceeds.

Venezuela Designation and Ozempic Study

• 🇻🇪 President Trump's formal designation of Venezuela as a cartel foreign terrorist organization escalates tensions, accusing the group of being led by President Nicolas Maduro.
• 💊 A pill version of Novo Nordisk's Ozempic failed to slow the progression of Alzheimer's disease in high-risk studies, a setback for the drug's potential new uses.
• 📉 Novo Nordisk's stock plunged significantly following the study results, and the company will discontinue a planned one-year extension of the study.

Sports News

• 🏀 Portland Trail Blazers head coach Chauncey Billups pleaded not guilty to charges related to allegedly staging rigged high-stakes poker games with alleged ties to the Mafia.