October 8, 2026: Mamdani Addresses ICE Shooting, Fort Hood Execution to be Live, More

0:01 News when you want it with Bloomberg News Now, I'm Doug Krisner. In New York City, ICE agents shot a man in the Bronx while arresting him during a targeted enforcement operation. The man survived and is being treated at a hospital. Mayor Zoran Mamdani and Governor Kathy Hochul said they received reports the agent fired at the man while he was inside a vehicle with a five-year-old child. Here is Mamdani.

0:26 For the past two hours, I have been on the phone with President Trump and Secretary Mullen, negotiating the release of the man ICE agents shot. Those negotiations were unsuccessful. Just moments ago, ICE put the man in an unmarked vehicle and whisked him away. Let me say this plainly. What happened today was an outrage.

0:52 That was New York City Mayor Zoran Mamdani. Now, the NYPD said it was not involved and none of its officers were at the scene when the incident occurred. The Pentagon says the firing squad execution of Nidal Malik Hassan will be live-streamed. Hassan is a former Army major who killed 13 people in a mass shooting at Fort Hood in Killeen, Texas, back in 2009. Defense Secretary Pete Hegseth says the execution will be public. and will take place at Fort Hood on December 3rd. President Trump said the U.S.

1:23 would not attack Iran ahead of the November midterm elections. The president cited what he said were productive discussions with the Islamic Republic. Now, The Atlantic recently reported Trump was mulling plans to strike Iran before the midterms. Here is Jen Gavito, former Deputy Assistant Secretary of State.

1:42 Is no military resolution to this long, decades-long conflict. That really has to come from diplomacy. And so things like military escalation or sanctions or economic pressure are intended to set the stage, ultimately, for a better negotiated outcome. And so I'm glad to see the president acknowledging that.

2:03 Jen Gavito, former Deputy Assistant Secretary of State, speaking with Bloomberg's Balance of Power. Crude oil prices jumped today on fresh concerns over supply disruptions in the Middle East. Then, after the New York close, Iran's Fars news agency reported heavy explosions in the strait caused by tankers hitting sea mines.

2:23 WTI crude finished the New York session up 3.6 percent to 91.49. The oil market also considered a reduction in U.S. Gulf Coast production as Hurricane Isaias approaches. Nearly 500,000 barrels a day of oil refining capacity sit right in the projected path of this hurricane. The storm is gathering strength and raising the threat of damaging winds and flooding across a wide stretch of the Gulf Coast. Here is Bloomberg meteorologist Rob Carolin.

2:51 Hurricane warnings in effect along the Gulf Coast from Ocean Springs, Mississippi to the Florida Panhandle. This area is likely to see a landfall from our first hurricane of the Atlantic hurricane season sometime late Friday, early Saturday. And it's going to go in as a fairly strong storm. It's moving over some very warm water. It's been developing very rapidly, even though there's some wind shear affecting the system. Eventually, low pressure developing over Texas is going to send that system up towards the north and east, bringing it inland over the Gulf Coast by late Friday.

3:21 That is Bloomberg meteorologist Rob Carolin. The Trump administration is suspending an immigration program for multiple tech firms. This move is tied to alleged widespread abuse of the H-1B worker visa system. The companies impacted include Microsoft, Cognizant Technology, and Infosys. Here is Vice President J.D.

3:41 Vance.

3:42 That is a scandalous system that we've allowed in this country for far too long to undercut the wages of American workers. Committing fraud against the American people and against this visa program. There has been no company in the United States, unfortunately, that has abused this system more than Microsoft.

3:58 Vance also said these suspensions would be indefinite. And at the same time, the administration is investigating the use of foreign exchange visa programs. at nine top colleges including Harvard, Stanford, and MIT. OpenAI is on track to generate annualized revenue of roughly $ 50 billion based on its current performance. It's an uptick from the prior year, but less than the $ 70 billion in some recent reported estimates. OpenAI, together with Anthropic and other AI firms, have often touted annualized revenue as a key growth metric. Well, the news on OpenAI sparked selling in semiconductor stocks today. The worry is that the AI spending spree will become harder to justify. Today, the Philadelphia Semiconductor Index was down 3.4%. The equity market

4:46 closed mixed. We had the Dow up a tenth of 1%. The S & P down nearly a half of 1%. The Nasdaq Composite fell 1.2%. In the Treasury market, yields were down across the curve. The 10-year lost five basis points in New York trading to 5.22%. SpaceX has agreed to buy a nationwide low-band spectrum license portfolio. This will enable the company to use its Starlink satellite service to become a major mobile carrier in the U.S. Shares in Chipotle Mexican Grill jumped 5% today. That was after the Financial Times reported, Starbucks has worked with advisors on a takeover proposal for the burrito chain. Starbucks CEO Brian Nichols spent six years as the top executive at Chipotle. before joining Starbucks in 2024. Now, Starbucks said it does not

5:36 comment on rumors and speculation, although the company did tell the Wall Street Journal it's focused on Nicole's plan to bolster sales and improve the cafe experience. Today, shares in Starbucks were down four-tenths of one percent. Former Venezuelan President Nicolas Maduro is facing a new charge of torturing U.S.

5:55 citizens in custody. More from Bloomberg's Erika Horskowitz.

5:59 New York prosecutors filed the new criminal count, adding to existing charges that Maduro participated in a years-long conspiracy to traffic cocaine in the U.S., alleging that Maduro conspired in the torture of nine people, three of whom were U.S. citizens. Maduro's wife was in Manhattan federal court Thursday seeking to be released from jail, claiming U.S. prison authorities can't adequately manage her health care needs. Both have pleaded not guilty to the previous charges. Maduro has also said he's immune from prosecution as the former leader of a sovereign nation.

6:28 Erica Herskowitz, Bloomberg Radio.

6:30 Major League Baseball is proposing a shorter regular season. The league wants to reduce the number of games from 162 to 154 beginning in 2029. Now, this proposal would also include expanding the division series from the best of five to the best of seven. MLB also wants to allow higher-seeded teams to choose their opponents, both in the wild-card round and the division series. Meantime, in the American League Divisional Series, the Cleveland Guardians beat the Chicago White Sox 9-5 in Game 4. The final game will be played Saturday in Cleveland. And that is news when you want it.

7:08 With Bloomberg News Now, I'm Doug Krisner, and this is Bloomberg.