Senate Rebukes Trip on Venezuela | Balance of Power: Early Edition 1/08/2026

Watch on YouTube ↗  |  January 08, 2026 at 19:58  |  43:55  |  Bloomberg Markets
Speakers
Norah Mulinda — Market Reporter, Bloomberg
Charlie Pellett — Anchor/Reporter, Bloomberg
Mike Dorning — Capital Influence Team Lead, Bloomberg
Suzan DelBene — Democratic Congresswoman, Washington
Adam Hodge — Managing Director, Bully Pulpit International
Jason Smith — Chairman, House Ways and Means Committee

Summary

On the early edition of Balance of Power, hosts Joe Mathieu and Tyler Kendall cover the Senate's procedural vote to limit Trump's Venezuela war powers authority, with five Republicans defecting, and a House vote on a clean three-year extension of ACA premium subsidies. Congress is also weighing a proposed record $1.5 trillion defense budget, tariff authority ahead of a Supreme Court ruling, and government funding ahead of a month-end shutdown deadline. Markets saw defense stocks rally on the military spending headlines while Blackstone and housing-related names were pressured by Trump's push against institutional single-family home buyers.

  • Senate advances a war powers resolution on Venezuela with five Republican defections; Trump names them publicly.
  • House votes on a clean three-year ACA premium subsidy extension; Senate path remains uncertain.
  • Trump proposes a record $1.5 trillion defense budget for FY2027; defense stocks rally on the news.
  • Trump pushes to bar institutional buyers of single-family homes; Blackstone and housing names sell off, then pare losses.
  • Congress works toward appropriations bills to avoid a government shutdown at the end of the month.
  • A Supreme Court tariff decision looms; Jason Smith says Congress will act if tariffs are struck down.
Ideas
Norah Mulinda Market Reporter, Bloomberg 30:50
Watch defense: budget boost meets threats
The proposed $1.5 trillion U.S. defense budget is positive news for the defense space, but the trade is muddled: Trump has also threatened the companies poised to benefit, the budget still must pass Congress, and the market is still digesting the whiplash as defense stocks swing on government contract news. She adds that European defense names have been outpacing U.S. defense names, making the whole space one to watch.
ITA MED
Norah Mulinda Market Reporter, Bloomberg 32:50
Blackstone housing selloff risk possibly overstated
Trump's push against institutional buyers of single-family homes hit housing-related names, and Blackstone, the largest U.S. company involved in real estate management, was caught in the selloff and even confused with BlackRock. She notes the declines are paring and that institutional investors represent less than 1% of U.S. single-family housing stock, so some argue the risk to the sector is overstated, making it a policy-driven setup to watch.
BX LOW
Up Next
3:22
I think AI capex is going to continue, says Wells Fargo's Kwon
CNBC · Jan 08
36:53
How Institutions Evaluate Crypto: Canton Network, Tokenization & Altcoins w/ Joshua Frank
Milk Road Daily · Jan 08
2:58
Labor market near-stall entering 2026, says Revelio Lab's Sohn
CNBC · Jan 08
5:36
Bloom Energy CEO K.R. Sridhar: AI spend and infrastructure buildout will last for a long time
CNBC · Jan 08
4:35
World will need 50% more copper than we have today: S&P Global's Yergin
CNBC · Jan 08

This Bloomberg Markets video, published January 08, 2026, features Norah Mulinda discussing ITA, BX. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Norah Mulinda  · Tickers: ITA, BX