House Works on Shutdown Deal | Balance of Power: Early Edition 2/02/2026

Watch on YouTube ↗  |  February 02, 2026 at 20:07  |  41:20  |  Bloomberg Markets
Speakers
Norah Mulinda — Market Reporter, Bloomberg

Summary

The video covers day three of a partial U.S. government shutdown as House leaders work to pass funding bills, with Department of Homeland Security and ICE restrictions as the main sticking points. Interviews with Rep.-Elect Christian Menefee and Rep. Suhas Subramanyam focus on DHS/ICE funding, oversight, and the Epstein files release. In markets, equities are higher while precious metals plunge after reports that Kevin Warsh will be nominated to lead the Fed; oil declines and crypto remains speculative.

  • Partial government shutdown enters day three with DHS funding as the key dispute.
  • House Rules Committee meeting and a possible Tuesday vote are the next procedural steps.
  • Rep.-Elect Christian Menefee says he will not vote to fund DHS and supports abolishing ICE.
  • Rep. Suhas Subramanyam presses for DHS/ICE accountability and oversight of the Epstein files release.
  • Markets are higher, with the S&P 500 near 7,000 and Bitcoin up.
  • Gold and silver sell off sharply after reports Trump plans to nominate Kevin Warsh as Fed Chair.
  • Norah Mulinda cites Warsh's hawkish stance, stronger-dollar implication, and profit-taking after records.
  • Oil declines while investor flows show interest in technology and growth stocks.
Ideas
Norah Mulinda Market Reporter, Bloomberg 38:23
Hawkish Warsh nomination pressures gold, silver.
Gold and silver sold off sharply after reports that President Trump plans to nominate Kevin Warsh as Fed Chair. Warsh is viewed as hawkish and supportive of a stronger dollar, which reduces the appeal of non-yielding precious metals; investors are shying away from gold and silver and taking profits after record levels. Silver had its worst day on record and gold had its biggest drop since 2013.
GLD SILVER HIGH
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This Bloomberg Markets video, published February 02, 2026, features Norah Mulinda discussing GLD, SILVER. 1 trade idea extracted by AI with direction and confidence scoring.

Speakers: Norah Mulinda  · Tickers: GLD, SILVER