Navigated to October 31, 2025: Judges Order Trump to Pay SNAP, Huang Completes Share Sale, More - Transcript

October 31, 2025: Judges Order Trump to Pay SNAP, Huang Completes Share Sale, More

Episode Transcript

Speaker 1

News when you want it with Bloomberg News Now, I made Kalki.

Two federal judges have ruled the Trump administration's decision to suspend food aid benefits for tens of millions of Americans during the government shutdown is likely unlawful and that US officials must use contingency funding to at least partially keep the program operational.

US District Judge John McConnell in Rhode Island Friday announced in court that he would order the Department of Agriculture to distribute a pool of contingency money as soon as possible for November benefits.

He also urged the administration to explore tapping other sources of federal dollars to ensure the program is fully funded.

Minutes earlier, in Boston, U S District Judge Indira Talawani issued a written ruling that rejected the administration's stance that it is legally barred from tapping into billions of dollars in alternative funding sources to keep the program running during the budget impass In Congress, House Minority Leader Jakim Jeffries on CNN, We're thankful.

Speaker 2

For these rulings.

The law is very clear funds do exist within the administration for exactly this reason, a contingency fund to make sure that no one in America, the wealthiest country in the history of the world, ever goes hungry.

Speaker 1

Jeffries tells CNN that they have always been ready to negotiate with Republicans.

Nvidia chief executive officer Jensen Wong has sold more than one billion dollars worth of the chip maker's share since June, completing a massive pre planned stock sale.

The final sale of twenty five thousand shares reported Friday, wrapped up an arrangement adopted by Wang in March to unload as many as six million shares by year end.

The stock was worth about eight hundred and sixty five million when he started selling in late June, but has climbed over forty percent since then.

Amid unquenchable demand for artificial intelligence processors.

US air traveler is beginning to show signs of strain as the government shut down drags on, with traffic controllers shortages snarling thousands of flights into the weekend.

Flights into New York's JFK Airport were temporarily halted Friday afternoon due to staff and constraints.

The FAA also paused flights from Washington area airports into LaGuardia Airport beginning just after four thirty pm local time.

Traffic was slowed at other airports throughout the day, including Newark, Liberty, Ronald Reagan in Washington, Boston, Logan International Airport, and in Austin, Houston, Nashville, and the Dallas Fort Worth area.

President Trump denied that he is considering strikes on Venezuela, contradicting an earlier media report.

Speaker 3

Media reports earlier indicated President Trump had signed off on strikes inside Venezuela, including military targets, as part of the Trump administration's counter narcotic campaign, but when asked about it by reporters on Air Force One, the President said no.

There reports that you are considering strikes within Venezuela.

Is that screw no Iman decision on.

Speaker 1

That, no, etc.

Speaker 3

Meanwhile, venezuel As president is reportedly reaching out to Moscow and Beijing for help.

The Washington Post reports President Nicholas Maduro is looking for quote expanded military cooperation in the form of missiles, radar and aircraft from China, Russia and Iran.

In Washington, Amy Morris Bloomberg Radio.

Speaker 1

Democratic lawmakers on the House's top Oversight Committee called upon the panel's Republican chair to authorize a series of subpoenas to nearly two dozen major banks about any accounts they held for disgraced financier Jeffrey Epstein.

Their request came on Freddy in response to a report by Bloomberg News that cited the convicted sex offender's private emails to show that he was investigated for money laundering, a probe that was dropped roughly seventeen years ago.

In a letter sent to James Comer, the chairman of the House Oversigning Government Reform Committee, Representative Robert Garcia, the panel's ranking member, and his twenty Democratic colleagues, said the new details about the financial crimes probe warranted further scrutiny of the banks and any dealings they had with Epstein.

Wall Street closes the books in October, and it's on to the trading month of November.

More on the markets from Bloomberg's Charlie Pellett.

Speaker 4

For the month of October, the S and P five hundred and dex gain two point three percent, notching its six straight month of advances.

Emily Rowland is co Chief Investment Satategistic Manual Life Investment Management.

Speaker 3

It seems like nothing can stop this market, and you just don't want to get in the way of it.

It's also a market that's been driven by technicals momentum sentiment.

Speaker 4

Since the April meltdown, the S and P five hundred has soared almost forty percent.

This week, the SMP and Dow were a point seven percent, while Nestak was up two point two percent.

In New York, Charlie Pellett Bloomberg Radio.

Speaker 1

Game six of the World Series in Toronto.

The Dodgers defeated the Blue Jays three to one to force a deciding game seven Saturday night.

The Friday number is on Wall Street.

The Dow gain forty, NaSTA was up one forty three, the SNP added seventeen.

The ten year treasurer yield is at four point zero eight percent, the two year at three point five eight percent.

That's news when you want it with Bloomberg News.

Now I made Kleggy.

Speaker 3

This is Bloomberger

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