Bloomberg Television2h 29m
Nvidia Spy Scandal, Nationwide Ground Stop Lifted, Starship’s Longest Test Flight
David Gura, Christina Ruffini, Lisa Mateo, David Cameron, Ross Hamilton, Maria Curi, Peter Mattis, Allison Ellsworth, Stephen Ellsworth, George Ferguson, Mike Shepard, Becca Wasser, Morgan Meeker, Jeff Mason, Emily Chang, Barry Ritholtz, Ed Ludlow
Interview
- FAA systems are expected to return to normal operations before the Thanksgiving holiday, though Transportation Secretary Sean Duffy confirms crews are arranging flights to maximize departures while upgrades are planned for low-traffic windows like Monday mornings; the Trump administration has requested $50 billion in emergency funding for air traffic control modernization, a necessity driven by 3-4% annual growth in air travel and staffing shortages for legacy system maintenance.
- NVIDIA's stock has declined 12% this week and 30% over the last month, erasing nearly $2 trillion in value, as the board intends to elevate Colette Kress, a finance chief of 13 years, to interim CEO ahead of the earnings call next Tuesday; despite rumors of Rene Haas or Tim Cook, the board denies approaching Haas, and while NVIDIA remains the industry leader with supply sold out through 2028, competitors like Broadcom, Google, and AMD are expected to gain market attention during the interim.
- The U.S. has lost its measles elimination status, requiring at least 12 months of halted spread to regain it, a process potentially taking years, while Britain anticipates a widely available Alzheimer's blood test within one to two years.
- Microsoft has fully restored access to flagship software including Outlook, Teams, and Co-pilot after an outage affecting users in over 70 countries, and SpaceX aims to conduct a novel Earth landing today following a satellite deployment launch.
- Political and economic stability is being assessed with National Economic Council Director Kevin Hassett confirmed to remain in his post under President Trump, while Senator Chris Van Hollen plans to challenge Chuck Schumer for Democratic leader; a trilateral meeting involving the U.S., China, and Russia is expected on Thursday, and Secretary of State Marco Rubio met with Honduran President Nayib Bukele.
- Ukraine's President Volodymyr Zelensky is discussing a security package that could involve NATO membership in exchange for ceding the Donbass region, though he notes such a territorial trade requires public approval and European diplomats view the proposal as unrealistic due to Article 5 restrictions while Ukraine is at war.
- U.S. Middle East strategy post-conflict will involve continued engagement with a narrowed focus on core interests, avoiding large military bases due to Iranian threats, and relying on allies for flight and basing access while expecting Gulf states to assume greater security responsibility.
- Market movements include a NASDAQ drop of over 1% and an S&P decline of roughly 0.5% driven by NVIDIA, alongside the Anthropic IPO oversubscription six times and Barclays preparing to cut 200 investment bank positions next week.