Trump Brings Populist Pitch to Michigan | Balance of Power: Early Edition 1/13/2026

Watch on YouTube ↗  |  January 13, 2026 at 20:49  |  48:56  |  Bloomberg Markets
Speakers
Teresa Graham — CEO, Roche Pharmaceuticals
Jessica Nix — Reporter, Bloomberg
Jamie Dimon — CEO, JPMorgan Chase
Jeanne Sheehan Zaino — Political Contributor, Bloomberg
Maura Gillespie — Founder, Bluestack Strategies
Cristina Aquino — Anchor, Bloomberg
Joe Mathieu — Host, Bloomberg Radio
Martha Gimbel — Co-Founder, Yale Budget Lab
Raja Krishnamoorthi — Congressman (D-IL), Member of House Intelligence Committee & China Select Committee

Summary

President Trump brought his affordability message to Detroit as a new CPI report showed core inflation rising less than expected. The program covered the politics of affordability, tariffs, and Iran/Venezuela policy, then shifted to the J.P. Morgan healthcare conference with Roche's CEO and Bloomberg reporters. Later segments focused on JPMorgan earnings, the S&P 500 at a record high, and the Fed's difficult inflation-versus-labor-market balance.

  • Trump visits a Ford plant and addresses the Detroit Economic Club on affordability.
  • CPI shows core inflation up 0.2% month-over-month and 2.6% year-over-year.
  • Political panel debates whether Trump's populist affordability proposals can pass Congress.
  • Roche CEO discusses breast cancer and obesity pipeline catalysts.
  • J.P. Morgan healthcare conference highlights obesity drugs and the NVIDIA-Lilly AI partnership.
  • Jamie Dimon says the U.S. consumer remains healthy but flags geopolitical risk.
  • Markets digest CPI, a record S&P 500 close, earnings season, and Fed independence concerns.
  • Yale Budget Lab's Martha Gimbel warns of labor-market weakness and sticky inflation.
Ideas
Teresa Graham CEO, Roche Pharmaceuticals 26:17
Roche breast cancer drug may set standard.
Roche's breast cancer pipeline delivered positive interim data for a hormone receptor-positive breast cancer therapy, which represents about 80% of breast cancer cases. The drug is oral, highly tolerable, and as effective as current standards at interim analysis, positioning Roche to establish a new standard of care in a large indication where patients remain on treatment for years.
RHHBY HIGH
Jessica Nix Reporter, Bloomberg 30:45
Obesity market has room for more players.
The obesity drug market is not a two-player race; at the J.P. Morgan healthcare conference, multiple companies including AstraZeneca and Roche were advancing obesity programs. Jessica Nix sees room for a third, fourth, and fifth player as companies try to enter the space, indicating a large and expanding market beyond Eli Lilly and Novo Nordisk.
THNR MED
Jessica Nix Reporter, Bloomberg 31:35
NVIDIA-Lilly AI drug lab speeds discovery.
NVIDIA is investing $1 billion into an AI drug laboratory with Eli Lilly, one of the first times AI is being brought into medicine at scale. The partnership is one of the biggest deals from the J.P. Morgan healthcare conference and follows a prior supercomputer collaboration at Lilly's Indianapolis headquarters; it could speed up research and clinical tasks.
NVDA LLY MED
Jamie Dimon CEO, JPMorgan Chase 35:00
US consumer healthy; bank deregulation positive.
Jamie Dimon said the U.S. consumer remains healthy and employed, though jobs have weakened a bit. He views the One Big Beautiful Bill and deregulation as a general positive, not just for banks, and said banks should be able to redeploy capital. The main offset is elevated geopolitical risk.
KBE MED
Up Next
5:43
U.S. will remain the world superpower for energy, says API's Mike Sommers
CNBC · Jan 13
4:26
JPMorgan under pressure more from earnings than credit card fee cap, says UBS' Erika Najarian
CNBC · Jan 13
26:50
President Trump: Growth is exploding and inflation is defeated
CNBC · Jan 13
5:15
A lot for investors to be happy about with the economy, says State Street's Michael Arone
CNBC · Jan 13
1:00
Trump Says He'll End Sanctuary City Payments on Feb. 1
Bloomberg Markets · Jan 13

This Bloomberg Markets video, published January 13, 2026, features Teresa Graham, Jessica Nix, Jamie Dimon discussing RHHBY, THNR, NVDA, LLY, KBE. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Teresa Graham, Jessica Nix, Jamie Dimon  · Tickers: RHHBY, THNR, NVDA, LLY, KBE