Trump Backs Noem, Shifts Minnesota Plan | Balance of Power: Early Edition 01/27/2026

Watch on YouTube ↗  |  January 27, 2026 at 20:17  |  40:59  |  Bloomberg Markets
Speakers
Jen Gavito — Acting Principal Deputy Assistant Secretary, Bureau of Near Eastern Affairs
Cristina Aquino — Anchor, Bloomberg
Mick Mulvaney — Former White House Chief of Staff; Co-Chair, Active Strategic Advisors
Jeanne Sheehan Zaino — Political Contributor, Bloomberg

Summary

On Balance of Power: Early Edition, host Joe Mathieu discusses President Trump's shifting strategy in Minnesota and his affordability speech in Iowa. Guests cover the political fallout, immigration enforcement, a possible government shutdown, and the Fed. Market discussion focuses on the S&P 500 nearing 7000 on mega-cap tech strength, UnitedHealth's drag on the Dow, and geopolitical risks from a potential U.S. strike on Iran, including oil price volatility.

  • Trump shifts Minnesota immigration strategy, sending Tom Homan and sidelining Kristi Noem.
  • President Trump is set to deliver an affordability speech in Des Moines, Iowa.
  • Mick Mulvaney sees an 85% chance of a short-term government shutdown.
  • Political panel discusses falling approval on immigration and midterm risks.
  • S&P 500 approaches 7000, driven by mega-cap tech ahead of Mag 7 earnings.
  • UnitedHealth drops 20%, creating a drag on the Dow.
  • Fed decision and Powell investigation in focus; new Fed chair speculation.
  • Geopolitical risk rises as U.S. sends armada toward Iran; oil volatility possible.
Ideas
Jen Gavito Acting Principal Deputy Assistant Secretary, Bureau of Near Eastern Affairs 38:21
Iran strike risks oil price volatility.
A US strike on Iran aimed at regime change could destabilize the region, causing refugees, economic instability, and fluctuating oil prices. She notes there are plenty of pretexts for a strike if a decision is made, which creates a clear geopolitical setup for oil price volatility.
WTI LOW
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This Bloomberg Markets video, published January 27, 2026, features Jen Gavito discussing WTI. 1 trade idea extracted by AI with direction and confidence scoring.

Speakers: Jen Gavito  · Tickers: WTI