Morning Wire
Johnson Wins Speaker Vote & Biden Blocks US Steel Sale | Afternoon Update | 1.3.25
Fri, 3 Jan 2025
Developing stories you need to know just in time for your drive home. Get the facts first on Morning Wire.
Chapter 1: Who is the new Speaker of the House?
I'm Georgia Howe with Daily Wire Editor-in-Chief John Bickley. It's Friday, January 3rd, and this is your Morning Wire afternoon update. Mike Johnson will remain Speaker of the House. He secured his position Friday on the first ballot after some conservatives expressed reservations about re-electing the Speaker.
Two Republicans, Ralph Norman of South Carolina and Keith Self of Texas, flipped votes and backed Johnson, helping to solidify his leadership position. The outcome is a major boost for advancing President Trump's agenda. Johnson has vowed to focus on border security, federal regulation cuts, and other Trump priorities. President Joe Biden has blocked the sale of U.S. steel to Japan's Nippon Steel.
Daily Wire senior editor Cabot Phillips has the details.
Chapter 2: What are President Biden's actions regarding US Steel?
President Joe Biden blocked the $14 billion sale, citing national security concerns. President-elect Donald Trump, who had previously vowed to prevent the deal upon taking office, reiterated his commitment to keeping U.S. steel domestically owned and pledged to implement policies supporting the American steel industry. Additionally, Republican senators, including J.D.
Vance, Josh Hawley, and Marco Rubio, opposed the acquisition, arguing that foreign ownership could undermine critical American infrastructure. U.S. Steel's shares fell 8% following the announcement. The move has drawn mixed reactions from labor unions and could impact U.S.-Japan relations.
Concerns over the resurgence of the Islamic State in Syria are mounting after the fall of President Bashar al-Assad's regime. Daily Wire reporter Tim Pearce has the story.
Chapter 3: What is the current situation with ISIS in Syria?
The Islamic State has seized weapons abandoned by the Syrian army to bolster its efforts to regain influence amid the country's instability. Meanwhile, the United States, France, and Kurdish militias have intensified airstrikes against ISIS targets, while nearby Turkey is supporting the Islamist group Hayat Tahrir al-Sham.
The power vacuum in Syria has raised alarms about the security of detention camps holding ISIS militants and their families, with Iraqi officials urging the U.S. to reconsider its planned withdrawal to address the potential threat.
demand for home mortgages dropped sharply at the end of December. Daily Wire senior editor Ash Short has the details.
Chapter 4: How is the mortgage market performing?
The Mortgage Bankers Association reported a 21.9% decline in total mortgage applications for the last two weeks of December, which is usually a slow time of year. Refinance applications also fell 36% and purchase applications dropped 13%. Much of the blame is being placed on high interest rates. A 30-year fixed rate hit nearly 7% recently.
While home inventory has grown compared to last year, high prices and elevated rates continue to deter buyers.
For the first time in over a decade, Tesla's global vehicle deliveries declined by 1%. The EV maker delivered 1.79 million vehicles for the year, down from 1.81 million in 2023. Despite a record 495,570 deliveries in the fourth quarter, the numbers fell short of those needed to surpass the previous year's total. Tesla stock fell by more than 3% immediately after the numbers were announced.
Chapter 5: What has happened to Tesla's vehicle deliveries?
Elon Musk had cautioned investors about a potential slowdown due to increased competition and market saturation, but he remains optimistic, focusing on future projects like autonomous vehicles and artificial intelligence.
Several major U.S. banks have exited a global climate initiative aimed at reducing greenhouse gas emissions. Daily Wire culture reporter Megan Basham has the story.
Morgan Stanley, Citigroup, Bank of America, Wells Fargo, and Goldman Sachs have all left the net zero banking alliance, whose purpose was to reduce greenhouse gases to combat climate change.
The departures come as President-elect Donald Trump prepares to begin his second term, with his administration expected to roll back climate-related regulations and increase scrutiny of initiatives perceived as limiting fossil fuel investments.
Republican lawmakers have raised concerns that such alliances could violate antitrust laws, intensifying political pressure on financial institutions to disengage.
Former New York Mayor Rudy Giuliani is fighting to keep his cherished Yankees World Series ring. Daily Wire deputy managing editor Tim Rice has more.
Giuliani wants to keep the coveted rings in the family as legal battles strip away his assets. This is all to satisfy a $148 million defamation verdict won by two former Georgia election workers over comments Giuliani made after the 2020 presidential election.
In court documents, Giuliani argues the four rings, given to him by Yankees owner George Steinbrenner during his time in office, are heirlooms meant for his son, Andrew. The rings are valued at $27,000 each. A court date set for January 16th will determine the fate of the rings, along with that of Giuliani's Palm Beach condo, which he claims is exempt as it is his primary residence.
24%.
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