Kimmel Returns as Trump Renews Attacks; Powell Reiterates Duel Economic Risks

0:00The thing about AI for business, it may not automatically fit the way your business works. At IBM, we've seen this firsthand, but by embedding AI across HR, IT, and procurement processes, we've reduced costs by millions, slash repetitive tasks, and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business. IBM. Healthcare doesn't always work great. If you've ever waited on a refill or couldn't schedule an appointment, you get it. That's the kind of stuff Optum is changing.

0:38They're using data and technology to integrate patient care, pharmacy, and everything else. So healthcare is connected, not complicated. What's that look like? Cheaper prescriptions that are easier to get and care that looks at the whole person. How you need it. Optum is helping make healthcare work as one for everyone. Learn more at business.optim.com. As industries evolve faster than ever, companies need an environment that accelerates strategic growth, and Michigan delivers on that promise. From emerging startups to global enterprises, Michigan offers what executives value most, a resilient, innovative ecosystem, diverse communities that attract top talent, and a quality of life that supports work-life balance.

1:19With our unified Team Michigan approach, businesses scale faster and compete at the highest level. Michigan, pure opportunity. Seize your opportunity at michiganbusiness.org. Bloomberg Audio Studios, podcasts, radio, news. Good morning, I'm Nathan Hager. And I'm Karen Moscow. Here are the stories we're following today. Well, Karen, after he was suspended for comments over the murder of conservative activist Charlie Kirk, late night host Jimmy Kimmel took a conciliatory tone in his return to TV last night. Bloomberg's John Tucker's here with more. Good morning, John. And good morning, Nathan. Kimmel choked up several times during his return to late night TV.

2:05You understand that it was never my intention to make light of the murder of a young man. Well, Kimmel's monologue last night was the first time He's spoken publicly since ABC parent Walt Disney pulled the show off the air September 17th. I posted a message on Instagram on the day he was killed, sending love to his family and asking for compassion. And I meant it. I still do. Nor was it my intention to blame any specific group for the actions of what it was obviously a deeply disturbed individual. Kimmel personally negotiated his return with Disney CEO Bob Iger. Later in the show, actor Robert De Niro showed up as a guest, playing the role of the FCC chairman, Brendan Carr.

2:50Echoing the characterization of Carr's comments last week about ABC and Kimmel, saying, We can do this the easy way or the hard way. Listen clear next to our media group. Two of the largest local ABC TV stations said they would continue to keep Kimmel's show off the air, and that's until further notice. And, John, I guess President Trump is continuing to react to Jimmy Kimmel's return, huh? Yeah, this was a social media post, and it was just minutes actually before Kimmel's show aired, Trump floated the prospect of unspecified future legal challenges against ABC over Kimmel's return, calling him an arm of the Democratic Party.

3:28This is a direct quote. Last time I went after them, they gave me$16 million, Trump wrote, and this one sounds even more lucrative. In New York, I'm John Tucker, Bloomberg Radio. All right, John, thank you. Now let's get to the latest from the U.N. General Assembly. President Trump is signaling more support for NATO after recent Russian incursions into its airspace. The president was asked about it during a meeting with Ukrainian President Volodymyr Zelensky. Mr. President, do you think that NATO countries should shoot down Russian aircraft if they enter their airspace? Yes, I do. And the president also says he thinks Ukraine is in a position to take back all the territory its loss to Russia with support from the European Union.

4:08He says three and a half years of war have devastated the Russian economy. The terrible war should have ended and Russia should have stopped it. But they've been three and a half years and they've gotten up so far. So we'll see what happens. And President Trump says it's too soon to talk about security guarantees for Ukraine. But he has been pushing European allies to ramp up economic pressure on Russia. President Zelensky is calling President Trump's position on the war a, quote, big shift. And Karen, President Trump's comments on Ukraine came after a speech before the U.N. General Assembly where he criticized the world body and many of its most cherished principles.

4:46What is the purpose of the United Nations? The U.N. has such tremendous potential. I've always said it. It has such tremendous, tremendous potential. President called climate change a con job. He said the global body hasn't done enough to support his diplomatic efforts, and he warned U.N. member states against uncontrolled migration. It's time to end the failed experiment of open borders. You have to end it now. Let's see. I can tell you, I'm really good at this stuff. Your countries are going to hell. And President Trump complained about a faulty teleprompter and an escalator that broke down before his speech.

5:21He said the two things he got from the United Nations were a bad escalator and a bad teleprompter. It was election night in one part of Arizona, and a Democrat has won the vote in the state's 7th district. Adelita Grialva is the choice to succeed her father, late Democratic Representative Raul Grialva. The win further narrows the already razor-thin Republican majority in the House, and it also sets the stage for a forced floor vote to release government files on Jeffrey Epstein. Well, Nathan, both the House and Senate are on recess as the clock takes toward a possible government shutdown on October 1st, and Bloomberg's Amy Morris has the latest from Washington.

6:02House Democrats are set to meet on Capitol Hill September 29th. House Minority Leader Hakeem Jeffries sent a letter to Democrats saying that they'll also have a virtual meeting on the 26th to find a path forward. Jeffries says they're ready to meet with anyone, anytime, at any place. He accused Trump of chickening out of the meeting they were supposed to have with the president this Thursday. Trump canceled, saying that Democrats have to drop their demands for renewing health care subsidies and ending Medicaid cuts before he'll agree to negotiate with congressional leaders. Bloomberg Economics reports a government shutdown is now more likely and may be harder to end.

6:40In Washington, Amy Morris, Bloomberg Radio. All right, Amy, thank We have more economic news this morning. New comments from Fed Chair Jay Powell. He says the outlooks for the labor market and inflation both face risks. He's reiterating his view that policymakers have a difficult road ahead as they weigh further interest rate cuts. In remarks heard here on Bloomberg Radio, Powell spoke to the Greater Providence Chamber of Commerce in Rhode Island. Near-term risks to inflation are tilted to the upside, and risks to employment are tilted to the downside. A challenging situation. Two-sided risks mean that there is no risk-free path.

7:17Fed Chair Jay Powell offered no hints as to whether he might support a rate cut at the Fed's next meeting next month. Well, Nathan Powell's outlook helped drive stocks down from all-time highs. Mag7 stocks led to declines, dropping 1.5%. This morning, shares of Micron, they are higher. They are up about 1.3%. The largest U.S. maker of computer memory chips gave an upbeat forecast, helped by demand for artificial intelligence equipment. And Antoine Chakabin is equity research analyst from New Street Research. The key metrics we look at here are cogs, of course, and pricing. And that's driving, you see cogs growing sequentially, you see gross margins expanding, and revenues growing more than 20 % sequentially.

8:00And that's supporting very much our perspective here, because memory is a constraint that everybody's addressing at the moment. And that's New Street Research equity research analyst Antoine Chakabin. And Micron shares have nearly doubled this year. And shares of Alibaba traded in the U.S. are jumping this morning, Karen. They're up nearly 9 percent. The company's revealed plans to ramp up its AI spending past an original$50 billion plus target. Alibaba also says it's integrating NVIDIA's suite of so-called physical AI tools into its cloud software platform. It is a notable collaboration between two of the leading AI names in the U.S.

8:37and China.

8:41Time now for a look at some of the other stories making news in New York and around the world. For that, we're joined by Bloomberg's Michael Barr. Michael, good morning. Good morning, Karen. Ryan Ruth has been found guilty of attempting to assassinate Donald Trump at a Florida golf course last year. After the verdict, Ruth tried to stab himself in the neck with a pen, but was quickly restrained by officers. The jury took about two hours to reach their decision. Ruth, who represented himself in court, faces life in prison with sentencing scheduled for December 18th. President Trump praising the verdict, saying justice was served.

9:14I'm very appreciative of the justice that was given and the way it was handled by Pam Bondi and Todd Blanche. Prosecutors say Ruth spent weeks plotting to kill Mr. Trump but did not fire his weapon. On the southern Chinese coast. rain and wind as typhoon ragasa one of the strongest in years slam waves taller than lampposts onto hong kong promenades ragasa left destruction in taiwan and the philippines taiwan reported 14 deaths in a flooded township and 10 deaths occurred in the philippines an executive from hong kong's airport authority says the airport expects to handle more than a thousand flights on Thursday.

9:59The suspect in Long Island's infamous Gilgo Beach serial killings has lost his bid to separate his cases into multiple trials. Rex Heuerman showed no emotion learning he will face a single trial for all seven alleged murders. Defense attorney Michael Brown said he disagrees with the judge's decision but is moving on. We're not wasting people's time. We're not making motions for the sake of making motions. We're making motions because we are confident in the law and confident in our position. Defense attorney Michael Brown said they wanted to split the cases, arguing the M.O.s differ and jurors wouldn't be able to separate evidence.

10:38Global News 24 hours a day and whenever you want it. With Bloomberg News Now, I'm Michael Barr and this is Bloomberg, Karen. Thanks, Michael. Time now for our Bloomberg Sports Update. And for that, we bring in John Stashauer. Thanks, Karen. The Seattle Manors are heading to the postseason, and as baseball's hottest team, they rallied past Colorado 4-3. Josh Naylor, a three-run double in the eighth inning. They've won 15 of their last 16. The Yankees, with a walk-off win over the White Sox, also clinched a playoff berth. Coaching change at Oklahoma State. Mike Gundy out. He'd been the Cowboys coach the last 21 seasons.

11:12A quarterback change on the Giants. Russell Wilson heads to the bench. Rookie Jackson Dart makes the start on Sunday. That's your Bloomberg Sports Update. Stay with us. More from Bloomberg Daybreak coming up after this. Support for the show comes from public.com. If you're actively involved in your portfolio, you probably catch yourself repeating the same actions. Buying the dip, manually sweeping idle cash, putting on a hedge. On public, you can now create AI agents that handle all these tasks on your behalf. Just describe what you want to do in plain English. Like if the VIX hits 25, buy a put option on the S &P 500.

11:50Or if my cash balance goes above$20 ,000, move the excess into my direct index. You approve the workflow and your agent handles the rest. Monitoring the market, watching for your conditions, and executing your strategies exactly as defined. An investing platform driven by your intent, not just your clicks. You can also get full read and write access to your account via the public API. Go to public.com slash market and fund your account in five minutes or less. That's public.com slash market. Paid for by Public Investing. Brokered services by Open to the Public Investing, Inc., member FINRA, and SIPC.

12:29Advisory services by Public Advisors, LLC, SEC Registered Advisor. Complete disclosures available at public.com slash disclosures. The thing about AI for business, it may not automatically fit the way your business works. At IBM, we've seen this firsthand, but by embedding AI across HR, IT, and procurement processes, we've reduced costs by millions, slash repetitive tasks, and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business, IBM. These days, it seems like AI agents are just about everywhere you turn, every field and every function.

13:12But without identity, you can't trust they'll serve your business instead of jeopardizing it. Fortunately, Okta helps you get identity right by securing your AI agent's identities, giving you a single layer of control, a single standard of trust. So whether an AI agent supports a single user or your entire enterprise, with Okta, you'll turn risk into opportunity. Secure every agent. Secure any agent. Okta Secures AI. Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, and around the world on Bloomberg.com and the Bloomberg Business App. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.

13:52Jimmy Kimmel Live was live once again last night on most ABC stations in his first show since Disney pulled him off the air over comments about Charlie Kirk. Kimmel said he never intended to make light of the conservative activist birder, and he made a point about free speech. This show is not important. What is important is that we get to live in a country that allows us to have a show like this. That was Jimmy Kimmel in his first monologue since his suspension. For more, we're joined by Bloomberg's Jill Deesis. And Jill really was an emotional return for Jimmy Kimmel to the air. Really speaks to the stakes for him with the future of his show not really 100 % clear.

14:28Good morning. Yes, good morning, Nathan. Yeah, I mean, this is a story that honestly still seems far from over. You did have this very apologetic, conciliatory tone out of Jimmy Kimmel last night. But then you also do have some of these concerns about whether or not he actually will have this show in the long run, right? I mean, while he was on air, he was not on air for a significant number of broadcasters, particularly those run by Sinclair and Nextar. Remember, these are broadcasters that really were kind of behind some of that initial push to pull him from their airwaves. And the first one, they operate dozens of ABC affiliates, including in very large markets like Seattle and Washington, D.C.

15:10And, you know, look, Jimmy Kimmel made a point during his show talking about some of those free speech concerns. It also bring up the fact that, as we were discussing earlier on this program, Trump put out that statement talking about, you know, the idea of going after ABC. said, quote, last time I went after them, they gave me$16 million. You know, I believe he's referring to a defamation suit that Disney paid to settle in the case involving one of their anchors, George Stephanopoulos, and kind of shows that, you know, I mean, Trump is certainly willing to, you know, go after, you know, certain types of speech or other things that he sort of deems unacceptable in the courts.

15:46And so you kind of wonder where exactly something like this goes, if the FCC continues to be involved. But yeah, I mean, certainly I don't think that the story is quite over yet. Yeah, interesting to see that focus from the president following what was a pretty multi-layered visit to the U.N. General Assembly yesterday, particularly what the Ukrainian president Volodymyr Zelensky is calling a pretty big shift when it comes to the president's position on the war. Well, it is a very big shift. I mean, I think really notably what you heard from the president of the United States, who is in the past, just over the past couple of months, said that, perhaps Ukraine should make some territorial concessions in Russia's war on the country.

16:27Now he kind of took a completely different tone here. I mean, he's talking about how potentially, with the support of the European Union, Ukraine is positioned not only to fight back, but also to reclaim all of the territory taken by Russia since its invasion in 2022. I think what this really does speak to is the fact that ending Russia's war in Ukraine was something that Trump had made a campaign promise, something that he said that he wanted to get done day one in office. He's obviously been very frustrated with Vladimir Putin, increasingly frustrated with Russia over the past few months. And now you've got him saying this.

17:00I do think one thing that hasn't particularly changed about Trump's stance on this war is that he is really pushing the EU to take the front sort of seat here, maybe not providing any sort of, you know, boots on the ground by the U.S., but really sort of pushing the EU to get involved here. But I do think that those particular notes, that territorial note involving Ukraine was a really, really interesting shift from the president here. And in just 30 seconds, Jill, what about European Union support? Does it look like they're behind what the president is saying when it comes to boosting their level of support?

17:33Well, I mean, I think that what we've seen over the past several months is that you do see them kind of come to the table a little bit more. I mean, certainly Trump has kind of been banging this drum. I mean, you know, how exactly this all ends up resulting, I think, obviously, still remains to be seen. I mean, it was just a couple of weeks ago, you know, Trump was hoping that something would unsoon. I'm not sure that we're quite there yet. This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed by 6 a.m.

18:08Eastern each morning on Apple, Spotify or anywhere else you listen. You can also listen live each morning starting at 5 a.m. Wall Street time on Bloomberg 1130 in New York, Bloomberg 99.1 in Washington, Bloomberg 92.9 in Boston, and nationwide on Sirius XM Channel 121. Plus, listen coast-to-coast on the Bloomberg Business app now with Apple CarPlay and Android Auto interfaces. And don't forget to subscribe to Bloomberg News Now. It's the latest news whenever you want it, in five minutes or less. Search Bloomberg News Now on your favorite podcast platform to stay informed all day long. I'm Karen Moscow.

18:45And I'm Nathan Hager. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak.

19:01Healthcare doesn't always work great. If you've ever waited on a refill or couldn't schedule an appointment, you get it. That's the kind of stuff Optum is changing. They're using data and technology to integrate patient care, pharmacy, and everything else. So healthcare is connected, not complicated. What's that look like? Cheaper prescriptions that are easier to get and care that looks at the whole person. How you need it. Optum is helping make healthcare work as one for everyone. Learn more at business.optum.com. These days, it seems like AI agents are just about everywhere you turn. Every field and every function.

19:36But without identity, you can't trust they'll serve your business instead of jeopardizing it. Fortunately, Okta helps you get identity right by securing your AI agent's identities, giving you a single layer of control, a single standard of trust. So whether an AI agent supports a single user or your entire enterprise, with Okta, you'll turn risk into opportunity. Secure every agent. Secure any agent. Okta secures AI. As industries evolve faster than ever, companies need an environment that accelerates strategic growth, and Michigan delivers on that promise. From emerging startups to global enterprises, Michigan offers what executives value most, a resilient, innovative ecosystem, diverse communities that attract top talent, and a quality of life that supports work-life balance.

20:22With our unified Team Michigan approach, businesses scale faster and compete at the highest level. Michigan, pure opportunity. Seize your opportunity at michiganbusiness.org.