Second ICE Shooting in Minneapolis as Protests Intensify; Denmark-US Rift Persists Over Greenland

0:00Hello, I'm Stephen Carroll. I'm in Brussels where many of Europe's biggest decisions get made. And I'm Caroline Hepker in London with the hosts of the Bloomberg Daybreak Europe podcast. We're up early every weekday keeping an eye on what's happening across Europe and around the world. We do it early so the news is fresh, not recycled and so you know what actually matters as the day gets going. From Brussels, I'm following the politics, policy and the people shaping the European Union right now. And from London, I'm looking at what all that means for markets, money and the wider economy. We've got reporters across Europe and around the globe feeding in as stories break So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens It's smart, calm and to the point And it fits into your morning You can find new episodes of the Bloomberg Daybreak Europe podcast by 7am in Dublin or 8am in Brussels, Berlin and Paris On Apple, Spotify, YouTube or wherever you get your podcasts

1:02Bloomberg Audio Studios. Podcasts. Radio. News. Good morning. I'm Nathan Hager. And I'm Karen Moscow. Here are the stories we're following today. Karen, we begin with new tensions in Minneapolis. There's been another shooting in the city a week after an immigration and customs enforcement agent shot and killed a woman and set off nationwide protests. The Department of Homeland Security says one of its officers tried to arrest a man during a targeted traffic stop, but he ran into a parked vehicle and fled on foot. The officer caught up with him, but then Minneapolis Police Chief Brian O 'Hara says two other people came out of an apartment and started attacking the officer.

1:42During the struggle, the federal agent discharged his weapon, striking one adult male. The adult male then retreated inside of the residence where he remained inside and refused to come out. Minneapolis Police Chief Brian O 'Hara says all three were eventually taken into custody. Both the officer and the man who was shot are in the hospital. DHS says that man is a Venezuelan who entered the U.S. illegally. Minnesota Governor Tim Walz is condemning the ongoing enforcement surge in his state. Let's be very, very clear. This long ago stopped being a matter of immigration enforcement. Instead, it's a campaign of organized brutality against the people of Minnesota by our own federal government.

2:22Governor Tim Walz delivered a primetime address to Minnesota right around the time of this latest shooting. We want to turn to U.S. foreign policy now, Nathan, and there's no end to the tensions between the U.S. and Denmark after a high-stakes meeting in Washington over Greenland. Danish Foreign Minister Lars Ljöge Rasmussen says there's still a fundamental disagreement over who gets to control the semi-autonomous territory. For us, ideas that would not respect territorial integrity of the Kingdom of Denmark and the right of self-determination of the Greenlandic people are, of course, totally unacceptable.

2:59Still, Danish Foreign Minister Lars Løge Rasmussen says he's agreed to set up a working group after meeting with Secretary of State Marco Rubio and Vice President J.D. Vance. Denmark has also announced plans to beef up its military presence in the Arctic. Sweden, Norway and the UK are also sending troops to Greenland. And Germany says it'll send more than a dozen personnel to the island to explore their own military contribution. Turning to the war in Ukraine now, Karen. President Trump faults Ukraine's leader, Vladimir Zelensky, as the main obstacle to an agreement to end the war that Russia launched against his country.

3:34In an interview with Reuters, the president described Russian President Vladimir Putin as ready to make a deal. When pressed on what was impeding an agreement, the president replied, Zelensky. Well, let's get to the latest developments in Iran. Nathan, President Trump is indicating he might hold off on attacking the country. The president says he has been reassured the government in Tehran would stop killing people involved in protests. We get more from Bloomberg Middle East correspondent Jumana Bersetchi. We don't exactly know who he's spoken to, who's given him those reassurances. And again, as we've been reporting, it's very difficult and challenging to get live information from the ground in Iran because of the communications blackout.

4:17But human rights agencies estimate that the death toll continues to climb and we're sitting closer to something like 3000 people. And Bloomberg Middle East correspondent Jumana Bersechi there. We are seeing an impact on the oil market right now. Now crude is falling. NYMEX crude oil and Brent both down more than 4 % with NYMEX crude at$59.28 a barrel. Karen, there are new developments this morning in the Justice Department probe into the Federal Reserve. Bloomberg's John Tucker has been following that and joins us now with the latest. John, good morning. Good morning, Nate. President Trump now insists he does not plan to fire Federal Reserve Chair Jerome Powell.

4:53In an interview with Reuters, Trump said, quote, I don't have any plan to do that. Still, the president said he had not arrived at a conclusion about whether his Justice Department probe of the Fed would give him grounds to oust the Fed chair, saying it's too early to say. Well, the pushback of the probe has been fierce. Republican Senator Tom Tillis sat down with Bloomberg Balance of Power, repeating his concern the DOJ's criminal probe threatens Fed independence. It's remarkable to me that someone in the DOJ would move without the president's knowledge, but apparently they did. But look, if suddenly the threat of a lawsuit can take a chair out of play, how can anybody think that that's anything more than a de facto ending the independence of the Fed?

5:37And we all know what that does to markets worldwide. Well, Tillis has said he would block Fed nominations until the investigation is resolved. In response to Republican lawmakers like Tillis, who are criticizing the Fed investigation, President Trump responded, I don't care and, quote, they should be loyal. In New York, I'm John Tucker, Bloomberg Radio. All right, John, thank you. Let's turn to the markets now, where the S &P 500 saw its first back-to-back losses in 2026, the Nasdaq dropping 1%. It was its worst decline in a month amid a slide in all magnificent seven stocks. New Edge Wealth Chief Investment Officer Cameron Dawson sees more volatility ahead.

6:14Noting that we are in the fourth year of a bull market, and that's where you get a 50-50 chance as to whether or not it extends into a fourth year. And also note that this fourth year is coinciding with a midterm election year, which also tends to have both a higher volatility and lower returns than the other years during the election cycle. So fourth year bull market, midterm election year, that would suggest expect more volatility and lower returns. Despite the increased volatility, New Edge Wealth's Cameron Dawson expects stocks to end the year higher. Well, tech stocks are leading the gains this morning, Karen.

6:47Following news from Taiwan's semiconductor manufacturing, TSMC gave a stronger-than-anticipated outlook for 2026, signaling its confidence in the longevity of the global artificial intelligence boom. And shares in key supplier ASML Holdings soared to a record in Europe this morning, setting its market value above$500 billion. And NVIDIA shares this morning are up 1.5%. Crew of four astronauts has landed back on Earth. Splashdown of Crew 11. After 167 days in space, Dragon and NASA astronauts Zena Cardman and Mike Fink, Kimya Yui of JAXA and Roscosmos cosmonaut Alec Platinov are back on Earth. Now those astronauts undocked from the International Space Station aboard a SpaceX Dragon capsule.

7:31This morning they splashed down off the coast of California, cutting their trip early by about a month because of a medical issue on board. NASA is not disclosing the name of the astronaut or the nature of the medical issue due to privacy concerns. The agency is working to accelerate the arrival of the next crew, which could be as early as the middle of next month.

7:54Time now for a look at some of the other stories making news in New York and around the world. And for that, we're joined by Bloomberg's Michael Barr. Michael, good morning. Thank you very much, Karen. Vice President J.D. Vance cast the tie-breaking vote in the Senate on the Venezuela War Powers Resolution. A group of senators voted with all Senate Democrats on the resolution, which would have blocked the use of U.S. armed forces within or against Venezuela unless authorized by Congress. Vance's vote means the resolution dies. On this vote, the yeas are 50, the nays are 50, the Senate being equally divided.

8:29The vice president votes affirmative and the point of order is sustained. Two Republican senators who previously supported the measure ended up voting against it, Senators Josh Hawley and Todd Young. Senate Minority Leader Chuck Schumer argues that this leaves the door open for President Trump to start another forever war. Make no mistake about it. This vote makes things more dangerous, not less. It emboldens Donald Trump to push further down this reckless path. The vote followed fiery phone calls from President Trump to pressure GOP defectors who last week voted to advance the resolution. It is now day four of a nurses' strike in New York City.

9:10There's no word of any imminent negotiations. About 15 ,000 nurses walked off the job Monday from the city's three major hospital systems, Mount Sinai, Montefiore, and New York Presbyterian. The New York State Nurses Association Union is calling for better pay, better benefits, and protection from workplace violence. A measles outbreak is growing in South Carolina. State officials say there have been public exposures in places like retail stores, churches and restaurants. Department of Public Health State Epidemiologist Dr. Linda Bell. We're also seeing ongoing transmission in households where, you know, entire households of people who are unvaccinated are being infected.

9:53Dr. Bell says so far, 434 cases have been reported in the South Carolina outbreak, with over 200 reported in just one week. Global 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. Nine NFL teams are looking for a new head coach, and it looks like the first team to make a hire will be the New York Giants. They met yesterday with John Harbaugh, who spent the last 18 years in Baltimore. Word is they are working to finalize a deal.

10:28Quarterback Dante Moore has decided to stay in school. He'll be back with Oregon rather than turn pro. He was projected as perhaps being the number two pick of the draft. A baseball free agent signing starting pitcher Ranger Suarez, formerly with the Phillies, signed with the Red Sox. That's your Bloomberg Sports Update. Stay with us. More from Bloomberg Daybreak coming up after this. As markets move and headlines break, what matters most is context. A Bloomberg subscription gives you unmatched reporting, sharp analysis, and powerful tools that help you connect the dots. Visit Bloomberg.com slash podcast offer to learn more.

11:09Coast 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. The Trump administration does not appear to be backing off its demands to take over Greenland after a high-stakes meeting in Washington with the vice president and secretary of state. Danish Foreign Minister Lars Løge Rasmussen says a fundamental disagreement remains. Greenland, for the time being and for a foreseeable future, will remain within the kingdom of Denmark. That was the Danish Foreign Minister after the meeting with J.D.

11:45Vance and Marco Rubio. And joining us from Brussels this morning is Bloomberg Chief Europe Correspondent Oliver Crook. Ollie, we saw images of the Danish and Greenlandic foreign ministers coming out of that meeting doing fist bumps. But now it appears the meeting did not go so well. So where do things stand now? Yeah, there was a lot of videos of them. There were also, we saw a few videos of them chain smoking, sort of going in and out of the meetings. Maybe highlighting some of the stress that they've been under in the last couple of days in those meetings with J.D. Vance and Marco Rubio. Listen, I think the headline is what we heard there.

12:12It's the fundamental disagreement still remains. This is what we heard from the Danish foreign minister. He said that effectively nothing has been resolved at this point, that the discussions were frank and constructive, which obviously is just diplomatic speak for potentially not a whole lot getting done. Again, the sort of starting position for the Danes, for Greenland, is basically not in any material change to the status quo legally. They say that the framework that exists currently governing the relationship between the United States and Greenland between under this treaty from 1951, which is, again, gives very expansive powers to the United States in the way that it can sort of behave and deploy its troops and military operations within Greenland.

12:51They say that that is adequate to sort of secure the territory from any sort of potential hostile activity from the Chinese, from the Russians, which is what we've been hearing from Donald Trump. They're trying to de-escalate the situation. They said that they're now going to start this working group. And I thought it was interesting that the Danish foreign minister said that the working group would be there to explore if they can find a common way forward, because that is certainly not assured. And in the meantime, we have European nations beginning to send forces to the Arctic, including Greenland, led by Germany.

13:23I mean, that alone is significant. It is significant. I think right now it's much more of a symbolic gesture than anything sort of material from the military heft front. It's a lot of exploratory missions. So we have the Germans leading it. It was 13 soldiers that arrived today, I should say. Yesterday, Sweden sent a few officers, the UK, Norway. We also have the French. They're opening a consulate, actually, in Greenland starting in February. They say that that is going to be a diplomatic and political message, a signal that they would like to send. But we should say, you know, this is all about trying to explore different frameworks that the Europeans could potentially construct in order to assuage some of the fears of the president of the United States.

14:01But it's also when you have more and more international forces on this territory. Again, we don't really believe that the United States is going to launch a military campaign, but potentially that gets more difficult when you have representation from a number of different NATO allies. So maybe not a military deterrent, but potentially a diplomatic deterrent. Just 30 seconds left, Oliver. What is the European sense about the status of NATO, the strength of NATO right now? I think they're very concerned by what they've seen, particularly in the last couple of weeks. I mean, we just had the ambassador from Belgium or to Belgium from the United States on our air this morning.

14:35I was speaking to him and so was our colleague Stephen Carroll here in Brussels and basically talking about what is the nature of American friendship to the European Union at this stage. And that is a question he's getting from a lot of different sort of diplomats. He was there to basically reassure that this is a United States that stands firmly behind NATO, that Donald Trump is a big fan of NATO and that he believes in it as a strong alliance. It is the most important alliance that the United States has. But frankly speaking, the way that the president has been speaking on some of the rhetoric, he used some of the same exact language about going the easy way and the hard way on Greenland as with Venezuela.

15:07That does not reassure European allies at all. 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. Eastern 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.

15:47It'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. And I'm Nathan Hager. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak.