Business
Wall Street Week 11/03/2023
On this edition of Wall Street Week, Cecilia Rouse, Former Council of Economic Advisers Chair explains why we are seeing the US labor market slow down. Scott Chronert, Citi US Equity Strategist breaks down the cross-asset rally after the Fed pause and cooling jobs data. Steve Rattner, Willett Advisors Chairman & CEO tells us what the UAW agreements with the Big Three automakers could mean for competition with non-union automakers. Henry McVey, KKR Head of Global Macro and Asset Allocation dives into China’s shift from being an economic miracle to disinflationary, and Lawrence H. Summers, Former US Treasury Secretary says that markets are over-interpreting signs from the Fed and labor market as evidence of contained inflation.
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Business
Gulf States Deepen Military Coordination as Iran Diplomacy Faces Hormuz Risks
Anthropic is targeting a valuation of about $1.4 trillion, with bankers looking to push the figure higher. Shares are expected to be priced between $70 and $78, with pricing set for Nov. 18 and trading planned for Nov. 19. The offering could raise as much as $90.4 billion.
Markets are also focused on a renewed rate-hike debate after stronger-than-expected US inflation. Fed officials are pushing back against the idea that tightening is over, while Japanese bond yields rise following a Treasury selloff. Asian stocks climb for a third day as bonds come under pressure.
Oil rebounds after two days of losses as traders balance diplomatic progress with continuing risks around Hormuz. Qatar says the US and Iran are responding positively to mediation efforts, but tanker attacks continue. Gulf states are also stepping up defense coordination, with plans for a GCC joint command based in Kuwait.
Russia and Ukraine are set to resume US-led peace talks, with Washington and Europe emphasizing the need for credible security guarantees. Steve Witkoff and Jared Kushner remain central to the mediation effort.
In technology, CoreWeave shares rise after a stronger forecast, Nvidia brings in a former federal prosecutor for the Huang probe, Alibaba’s T-Head files for a Hong Kong listing, TSMC gains after monthly sales data, and SoftBank swings after reporting a $7 billion loss. IBM also tightens immigration sponsorship.
Presight AI reports a 31% rise in third-quarter profit after tax to AED144.5 million, supported by long-duration customer contracts.
In an earlier Bloomberg interview, Emirates President Tim Clark says Dubai and Emirates continue to perform strongly despite the conflict, while warning that supply chains remain constrained and European carriers need to think longer term.
In Washington, House Republicans block an impeachment bid against Pete Hegseth, although Democrats could revive the effort in January.
At COP31 in Anatolia, Turkish Energy Minister Alparslan Bayraktar says Turkey plans to meet its electrification goals through renewables, nuclear power and mining, while oil and gas will remain part of the country’s energy mix. Guests includes Haig Bathgate, Callanish Capital CEO, Thomas Pramotedham, Presight CEO and Tim Clark, Emirates President.
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.
Chapters:
00:00:00 – Introduction
00:05:08 – Anthropic Targets $1.4T Valuation
00:09:36 – Haig Bathgate, Callanish Capital CEO
00:15:02 – Oil Markets Weigh Diplomacy Against Hormuz Risks
00:17:22 – Russia and Ukraine to Resume US-Led Peace Talks
00:28:32 – Thomas Pramotedham, Presight CEO
00:34:46 – Tim Clark, Emirates President
00:39:36 – House Republicans Block Hegseth Impeachment Bid
00:43:28 – Alparslan Bayraktar, Turkish Energy Minister
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Business
Nvidia Weighs Ousting Jensen Huang as Infidelity Scandal Deepens
“Bloomberg: The Asia Trade” brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Sydney and Singapore with Haidi Stroud-Watts and Avril Hong, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets.
Chapters:
00:00:00 – Bloomberg: The Asia Trade begins
00:01:02 – BREAKING: Nvidia preparing to oust CEO Jensen Huang: WSJ
00:02:37 – BREAKING: Huang said to have a relationship with VP at Nvidia: NYT
00:17:42 – Washington, Tehran send mixed signals on Iran war outlook
00:20:44 – China plans $2B bond sale in Hong Kong
00:24:46 – BREAKING: Nvidia working with outside firm to find possible new CEO
00:26:40 – Futurum’s Rolf Bulk on what a new Nvidia CEO could mean for AI
00:40:25 – Pepperstone Group’s Chris Weston on the controversy engulfing Jensen Huang
00:46:14 – BREAKING: Nvidia weighs naming temporary CEO before holding wider search
00:47:15 – Markets open in Japan, South Korea
00:57:19 – BREAKING: Nvidia gets 2nd downgrade as Bernstein says ‘we’ve had enough’
00:57:39 – HSBC’s Max Kettner on market impact of Jensen Huang’s infidelity scandal
01:05:16 – Nissan cuts full-year sales outlook on China competition
01:14:34 – Technalysis Research’s Bob O’Donnell on Nvidia’s CEO succession prospects
01:25:51 – BREAKING: Taiwanese tech firms face Nvidia risk
01:28:40 – Hon Hai profit seen rising 22% Y/Y in 3Q
01:32:07 – BREAKING: Nvidia board meets on Jensen Huang’s fate
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Business
Trump Backs Nvidia CEO After He Admits Affair
President Donald Trump called Jensen Huang a “fine person” and said he should stay on as the chief executive officer of Nvidia Corp. after the executive admitted having an affair with a suspected Chinese spy.
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Business
China Trade Surplus Tops $1 Trillion for Second Time
“Bloomberg: The China Show” is your definitive source for news and analysis on the world’s second-biggest economy. From politics and policy to tech and trends, Yvonne Man and David Ingles give global investors unique insight, delivering in-depth discussions with the newsmakers who matter.
Chapters:
00:00:00 – Bloomberg: The China Show opens
00:02:09 – Sources: Nvidia intervened in chip smuggling probe
00:13:40 – Asian stocks rally after US tech surge
00:19:37 – Anthropic set to IPO despite AI worries
00:23:24 – What to watch in Greater China today
00:28:46 – China’s automakers struggle to turn export boom into profits
00:32:46 – Bloomberg Intelligence: 2026 Singles’ Day growth seen as slowest since 2023
00:36:48 – Neolix’s Will Zhao on business outlook
00:47:46 – Asian stocks rally after US tech surge
00:51:33 – Opinion: Huang being bigger than Nvidia is a problem
00:57:43 – Direxion’s Douglas Yones on leveraged ETFs
01:06:57 – Anthropic retracts filing that showed IPO goal, Reuters reports
01:10:44 – Citigroup’s Jane Fraser on AI outlook, China strategy
01:26:14 – Trump says further strikes on Iran ‘not necessary’
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Business
Hot Inflation, AI Selloff & Anthropic IPO
The Close brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today’s guests are Goldman Sachs Asset Management Chief Investment Strategist for Innovator Tim Urbanowicz, Moody’s Chief Credit Officer Atsi Sheth, OpenTable CEO Debby Soo, KPMG Chief Economist Diane Swonk, Texas Capital Bancshares Chairman, President & CEO Rob Holmes, AlphaSimplex Chief Research Strategist & Portfolio Manager Katy Kaminski, D.A. Davidson Technology Research Head Gil Luria, Founder ETFs CIO Lauren Cassidy, Stifel CEO & Chairman Ron Kruszewski, LS Power CEO Paul Segal, & Walker & Dunlop Chairman & CEO Willy Walker.
Chapters:
00:00:00 Bloomberg The Close
00:02:17 AI Valuations, Nvidia & the Post-Election Market
00:08:43 Moody’s on AI Debt, Credit Risk & the 2027 Outlook
00:14:51 Nvidia, MegaSpeed & U.S.-China Export Controls
00:18:13 OpenTable CEO Debby Soo on Dining & Gen Z Spending
00:22:52 Diane Swonk on Hot Inflation, Fed Hikes & AI Bubble Risk
00:31:23 Texas Capital CEO Rob Holmes on Texas Growth & Markets
00:37:31 Higher Rates, Market Volatility & the AI Trade
00:43:20 The Closing Bell
00:48:04 Nvidia Slides as Jensen Huang Scrutiny Deepens
00:50:25 CoreWeave Earnings, AI Demand & Capex
00:55:37 CoreWeave’s Debt, Funding & AI Growth Risks
01:01:14 Founder ETFs CEO Lauren Cassidy on Nvidia & Anthropic
01:08:38 Stifel CEO on Anthropic Partnership & AI Wealth Management
01:13:25 AI, Higher Rates & Investing Through Volatility
01:16:58 Power Markets, Data Centers & Energy Investment
01:23:20 Walker & Dunlop CEO Willy Walker on Rates & Real Estate
01:28:01 Commercial Real Estate, Data Centers & Investment Outlook
——–
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@RamonaCarter-oj3hh
December 12, 2023 at 3:31 pm
Those companies on wallstreet Indeed takes your info confiscates other Global companies I'm watching closely lol don't follow antitrust laws. I'm getting very pissed like interlogix, trying to break laws with your info wthell is going on. Artificial Intelligence artificial alright fake crap.
@kwamedarko6727
December 12, 2023 at 3:31 pm
Someone should summarize it
@Billy-wk3vv
December 12, 2023 at 3:31 pm
TERM LIMITS
@vonAlec
December 12, 2023 at 3:31 pm
Umm did bloomberg cost out their disney trip estimate at the ritz carlton? What a joke, living in a fantasy world. Fake news
@AmitKumar-tg7of
December 12, 2023 at 3:31 pm
Yeah Antisemitism doesnt get the same regard in America
Why does America keep sending usd4bn of 'aid' to Israel every year again (which has a higher per capita gdp)?
@eventhorizon9529
December 12, 2023 at 3:31 pm
Appreciate the info Steve; IMO, however, yours is the view of an elitist. The automakers saw fit to cut jobs only to turn around and garner billions in buy-backs for themselves. You weren't concerned about the price of the cars then. It's all a trope; you exaggerate the impact of pay increases so as to marginalize and/or vilify the efficacy of unions. Viva la Union, Baby !!!
This should be a clarion call to all laborers. There is only strength in numbers. You need to be able to collectively bargain; otherwise, you're always going to be a wage slave.
Then, when you've considered the power of collective bargaining, give a thought to healthcare policy and why it would be better to have a Single Payer system (ie. Medicare-for-All)…Single risk pool with monopsony power.
@fredhenry426
December 12, 2023 at 3:31 pm
Any vehicles made in Mexico is pure junk. Poor quality. Unions got theirs & Main Street takes it up the ass by $1,000.00 per vehicles. Never buy anything union made, if it can be helped.
@NOKI-VSEOCENIM
December 12, 2023 at 3:31 pm
The FED is again slow as usual. Then it will be too late.
@cortlandjdmayberryshraderm9619
December 12, 2023 at 3:31 pm
We need to avoid strike s all possible the consequences are just so costly & risky like driving the jobs away. The priority is to keep towns like Detroit vibrant did not ever become a ghost town again
@cortlandjdmayberryshraderm9619
December 12, 2023 at 3:31 pm
Speaking about doing business in Asia l wish we would all find a way to do more business with Philippines in all this
@detectiveofmoneypolitics
December 12, 2023 at 3:31 pm
Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank as subscriber 😊
@davidarnold2718
December 12, 2023 at 3:31 pm
Men want to participate in child care and care Giving more, the courts. Have to Realize it and stop favoring the women so much. I know as a father, I'm more than capable of fulfilling that role speaking for myself. And the way that societies look at single fathers who get less help. And as a stay-at-home, fatsir. We are looked down upon from society we could use some assistance in that area.
@davidarnold2718
December 12, 2023 at 3:31 pm
Israel you're the terrorists palestinians of freedom fighters o m g
@patrickyim1258
December 12, 2023 at 3:31 pm
Mr Summers , speaking up against Israel in bombing hospitals, refugee camps and ambulances is not antisemitism!
@jesselivermore2291
December 12, 2023 at 3:31 pm
people are still discussing why we have inflation? federal reserve created almost 20 trillion freaking dollars in 1 year.
@dejabu24
December 12, 2023 at 3:31 pm
5:24 Biden admin created the inflationary environment
@andreas8185
December 12, 2023 at 3:31 pm
Steve Rattner stands with Israel (see pin). Finally someone doing non-woke virtue signalling on Wall Street Week.
@didiermuhire9717
December 12, 2023 at 3:31 pm
Did not …back ? 😂 who is this guy ? D
@didiermuhire9717
December 12, 2023 at 3:31 pm
City strategist is a cartoon character 😂. D
@didiermuhire9717
December 12, 2023 at 3:31 pm
That’s poor? This funny. D
@didiermuhire9717
December 12, 2023 at 3:31 pm
To far ? Hahah 😂. Nope. D
@csxcobracsxcobra334
December 12, 2023 at 3:31 pm
TRUMP WILL WIN, AND AMERICA WILL WIN. 2024