Bloomberg News Now: Ukraine War Negotiations, Trump Tax Bill, Middle East Conflict, and Rail Strike Settlement

Ukraine War Negotiations

• 📞 President Trump held a two-hour call with Russian President Vladimir Putin, stating that both sides will immediately start negotiations.
• 🌍 Trump believes the war should have remained a European issue and is not ruling out further sanctions on Russia, but without a set timetable for talks.
• 🤝 Bloomberg's Pyotr Klemski reported that Putin described the conversation as frank and constructive, with a commitment for Russia and Ukraine to present memorandums for further discussions.
• 🕊️ Trump is stepping away as a broker in the conflict, and the Vatican was mentioned as a possible host for peace negotiations.

Middle East Conflict

• 🇮🇱 Prime Minister Benjamin Netanyahu announced Israel will take over the entire Gaza Strip and conduct an "unprecedented attack" on Hamas.
• 🌍 Leaders from France, Britain, and Canada have called on Israel to halt military operations in Gaza and allow humanitarian aid.
• ⚠️ British Prime Minister Keir Starmer stated that Israel's new Gaza offensive will prevent peace.

Trump Tax Bill Advances

• 🏛️ President Trump is meeting with Republicans on Capitol Hill to push for support for his tax and spending cut package.
• ⚖️ Disagreements persist regarding cuts to programs like Medicaid and food stamps, and the state and local tax deduction.
• 📈 House Speaker Mike Johnson described the legislation as arguably the largest and most comprehensive in generations and hopes for a vote by the end of the week.

New Jersey Transit Rail Strike Settlement

• 🚆 Commuters are returning to normal schedules following a strike settlement at New Jersey Transit.
• ✅ The first trains ran after a four-day walkout, with a tentative agreement reached between NJ Transit and the Train Engineers Union.
• 🎟️ All trains are indicated as on time, and tickets or passes that expired during the strike will be honored.

Market Stirrings

• 📉 Futures are lower, following a turnaround on Wall Street where retail investors helped fuel gains in the S&P 500.
• 📊 Bloomberg's Valerie Title noted that the market shrugged off a Moody's downgrade, viewing it as old news and an opportunity to buy.
• 📈 Individual investors purchased $4.1 billion in U.S. stocks, the largest level ever for that time of day, with JPMorgan Chase also breaking a record.