In chicago according to a report in politico. It will likely include a thank you to illinois for launching his lyrical career. Global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Caroline i am caroline hyde, this is Bloomberg Technology. A tumultuous year with another misstep, but this time it has company. How a social media giant is struggling. Plus, the commercial space race that could be set to lift off under donald trump. How peter thiel could be the x factor two deep space exploration. Wo tech titans sound off. First, our lead. Twitter is struggling with its video advertisement. This is the latest misstep to in videoth advertisements. It raises questions about the lucrative business of online advertisements. Is our guest host, brad stone. Is it another hit to twitter . Out andt us start address what i call the twitter paradox. The year has been horrible, the stock is way down, and yet somehow it has never be
, after the session concluded, saying things will be different after january 20 ago with the another duration less than a month away, jimmy carter is the only, president to rsvp. Bill clinton and george w. Bush are putting their decision off until next year, and a Spokes Person is saying george h. W. Bush will not attend because of his age. President obama is planning a farewell address next month and chicago. The remarks are scheduled to take place january 10 and will likely include a thank you to illinois for launching his political career. Global news 24 hours a day. This is bloomberg. Caroline i am caroline hyde, this is Bloomberg Technology. Off a up, twitter caps tumultuous year with another misstep, but this time it has company. How a social media giant is struggling. Plus, the commercial space race that could be set to lift off under donald trump. How peter thiel could be the x o deep space exploration. And two tech titans sound off. First, our lead. Twitter is struggling with
Legislation. Our roadmap begins with signs of confidence and optimism, those are the words of the president as stocks notch their longest record setting streak in a quarter century. Plus, trumps cabinet trouble. The president s top pick for labor suddenly withdrawing from a nomination with nearly half of his cabinet and Administrative Team still yet to be confirmed. Snap valuing itself between 19 billion and 22 billion as the owner of snapchat prepares for one of the most hotly anticipated ipos of the year. First up though, the historic runup in stocks getting the president s attention. This morning he tweets, stock market hits new high with longest winning streak in decades. Great level of confidence and optimism, even before the tax plan rollout. Hes referring, guys, to the series of record highs set by all three major indices for a running number of days. And if you look back at the first month performance on the s p, jim, hes got the best record. You got to go back to lbj to see an
Before we get started, we have breaknews. Lets get to Steve Liesman back at hq. Steve . From a Trump Press Conference to liesman on big numbers on debt, huge numbers. The new york fed saying Household Debt rising by 226 billion in the Fourth Quarter of 2016. That is the biggest jump in Household Debt since the Fourth Quarter of 2013. It is now at 12. 58 trillion, the biggest number since the Fourth Quarter of 08, which youll remember is right around when it started to decline with the financial crisis. What led the way . Mortgages at auto loans were behind this rise in Household Debt. But interestingly, bankruptcies and foreclosures reached an 18year low, which is the history of this particular survey. So, those rates are really well down. Youre not seeing a rise in bankruptcies and foreclosures, even while youre seeing the rise in debt. Credit cards and student loan balances were also part of the increase. Carl, we dont know if this is part of the trump phenomenon, the post confidence
Alexander acosta, the dean at the Florida International University Law school. He was also an assistant attorney general under george w. Bush. Well hear more about that, the president without naming his candidate earlier in a meeting with members of congress, said that he is a great man, hes excited about this pick. So well wait and see what happens there. But to give you a sense of just how quickly this press conference has been arranged, i want to talk to some of the press aides just after the president announced it. They didnt know there was a press conference Just Announced by the president. In fact, were still not told definitively the question will take questions. Well see what format here at the white house. We expect the Alexander Acosta nomination to be made formally there, and wait and see if reporters get a chance to ask questions on a whole host of other subjects that have been swirling around this white house in recent days, scott. Eamon, thanks. Well be back to you then.