Business
S&P 500 Falls 20% From January High
The S&P 500 dipped 20% below its Jan. 3 closing record on Friday, with a close at that level meeting the traditional definition of a bear market. Bloomberg’s Abigail Doolittle has the latest on “Balance of Power.”
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The US and Iran exchanged strikes for the first time in about a month as American forces hit an island in the Strait of Hormuz and the Islamic Republic responded by launching attacks on the United Arab Emirates and Jordan.
US Treasury yields ticked lower and stock futures were mixed as traders assessed the outlook for interest rates following Federal Reserve Chairman Kevin Warsh’s hawkish inflation comments at Jackson Hole.
John Ternus steps into his new role as Apple chief executive officer this week. Ternus won’t have much time before the company begins its annual fall product rollouts. This year the lineup will include an unusually ambitious slate of devices he’s been teasing for months internally.
Today’s guests: Bjoern Griesbach, Allianz Investment Management Head of Macroeconomic and Capital Market Research; James Kisner, Water Tower Research Technology Research Analyst.
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“The Pulse With Francine Lacqua” is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – The Pulse
00:00:23 – Stocks, gold drop on Fed rate-hike bets
00:01:13 – Bjoern Griesbach, Allianz Investment Management Head of Macroeconomic and Capital Market Research
00:09:17 – Oil gains as US hits Hormuz targets
00:11:14 – Trump’s Iran war exposes new challenge for Xi-Putin security bloc
00:14:04 – Germany’s Saxony-Anhalt holds elections Sept. 6
00:18:47 – Iceland votes to reject the European Union
00:21:41 – Monday top stories
00:23:02 – Monday headlines
00:23:25 – Apple’s Ternus takes CEO reins with AI first priority
00:26:22 – James Kisner, Water Tower Research Technology Research Analyst
00:33:58 – Lawmakers focus on compromise in UBS capital debate
00:36:08 – Shein falls in Hong Kong gray market
00:40:44 – BOE’s Bailey plays down inflation risk ahead of decision
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The Japanese yen is so weak that even the US has stepped in to prop up the currency.
The joint US-Japan action, the first in 15 years, underscores their unprecedented determination to defend the Asian currency. Mia Glass explains why.
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Warsh reiterated that policymakers have a “firm, fixed target” of 2% inflation at the 2026 Jackson Hole Economic Policy Symposium. Bloomberg’s Maria Eloisa Capurro explains.
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Bloomberg Television 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 Columbia Business School Professor Abby Joseph Cohen, Loop Capital Markets Consumer Sector Head, Senior Research Analyst Anthony Chukumba, The Conference Board CEO Steve Odland, Man Group Chief Market Strategist Kristina Hooper, Willow Wealth CEO Mitchell Caplan, McGraw Hill CEO Philip Moyer, Unifor National President Lana Payne, & Wedbush Securities Managing Director, Equity Research Matt Bryson.
Chapters:
00:00:00 Bloomberg The Close
00:02:51 Abby Joseph Cohen on Markets, Consumers & the Economy
00:07:24 AI Spending, Productivity & the Sustainability Question
00:11:42 Jackson Hole Preview & Kevin Warsh’s Fed Strategy
00:15:27 Nvidia, OpenAI & the AI Trade Ahead of Earnings
00:17:23 Top Calls
00:18:15 Dick’s Sporting Goods Plunges on Foot Locker Troubles
00:22:38 Consumer Confidence Falls as Inflation Anxiety Builds
00:25:13 Consumer Debt, Spending & the Risk to Economic Growth
00:27:48 CEO vs. Consumer Confidence & the Holiday Retail Outlook
00:30:29 Stock of the Hour: Super Micro Jumps on Cisco Partnership
00:32:09 Cisco, Super Micro & the AI Infrastructure Buildout
00:37:37 Man Group on Treasury Intervention, Yields & Fed Policy
00:41:01 AI Debt, Inflation & the Jackson Hole Outlook
00:43:27 Closing Bell
00:45:47 Intuit Earnings & the SaaS Selloff
00:47:29 Market Movers: Moderna, Nvidia & Resolve AI
00:49:08 Dick’s Worst Day Ever Raises Questions About Foot Locker
00:50:50 Zoom & Box Earnings Hit After the Bell
00:52:44 AI and the “SaaS-pocalypse” Debate
00:54:31 Market Recap: Nvidia Rebounds as Oil & Yields Fall
00:55:39 Mitch Caplan on Retail Investors & Private Markets
00:57:22 Private Credit, Higher Yields & the New 60/40 Portfolio
01:00:01 Why Companies Are Staying Private Longer
01:01:24 Private Market Liquidity & Access for Retail Investors
01:02:47 Private Assets in 401(k)s & Vanguard’s Zero-Allocation Call
01:05:54 After-Hours Movers: Intuit, Zoom & Box
01:08:12 McGraw Hill CEO on AI, Education & the Future of Learning
01:10:15 How Teachers and Students Should Use AI
01:12:06 McGraw Hill’s Agentic AI Strategy
01:13:28 Screen-Time Backlash & the Return of Print
01:16:29 U.S.-Canada Trade War Escalates
01:17:35 Unifor President on Auto Tariffs & North American Manufacturing
01:20:18 Canada’s Response to the U.S. Trade War
01:24:20 Nvidia Earnings Preview: Can AI Growth Keep Delivering?
01:25:49 Nvidia’s Next Growth Engine & Rising Chip Competition
01:28:23 What to Watch
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Ed Morris, Senior Adviser and Commodities Expert, discusses the recent fall in Brent crude oil prices. The decline is attributed to market attention on the potential impact of Iran sanctions, which are influencing supply expectations and investor sentiment in the commodities market. He speaks with Romaine Bostick on “The Close.”
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More on Bloomberg Television and Markets
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@sunnavailable
January 16, 2024 at 11:52 am
Fantastic! I'm ready to short! Somebody has to win, not the profitable companies.
@centralgroupllp3933
January 16, 2024 at 11:52 am
This channel/ vedeo is totally useless. A waste of time. Just typical rambling.
@donelpatterson9036
January 16, 2024 at 11:52 am
* FFIE RISES 40 % in 7 Days. FARADAY FUTURE FF 91 Ultra Premium Luxury Zero Gravity Seats, Zero to 60 mph 2.39 secs.
@aishwarya6171
January 16, 2024 at 11:52 am
Ever since I felt in the hand of a wrong trader, Donald22x has been my saviour. I can't thank you enough.
@gls1934
January 16, 2024 at 11:52 am
It was incredibly obvious that this would happen and end in a recession or even a depression. You can't break the laws of finance for decades and and then expect to beat the rap, and Joe Biden and his policy's came along at exactly the right time to trigger the collapse .
@machinexanax347
January 16, 2024 at 11:52 am
After researching the history of great assets such as real estate, dividend-paying stocks, gold, oil, and other commodities, Ive come to the conclusion that most excellent assets never come down to the price you want to acquire them at. Simply get the ones you can afford right now.
@chessdad182
January 16, 2024 at 11:52 am
Stocks were way overpriced with super high PE ratios. We still need to get the S&P500 PE ratio down to near 15. Then will be a level that it can grow from long term.
@TheHumbleChartist
January 16, 2024 at 11:52 am
Time for a rebound guys, get ready
@jhonmacraimbanajokora8657
January 16, 2024 at 11:52 am
What's so great about dollar cost averaging is that you don't have to wait for the next peak to get your money back.
@somersetbassett4580
January 16, 2024 at 11:52 am
anyone else think of Trump shaming the Fed for considering a non zero rate? 🤔
@robertm.8518
January 16, 2024 at 11:52 am
Well time to buy high beta stocks like meme stocks…nfa AMC AND GME 100K BABY WOOOOHHHHH I FEEL THE BREEZE NOW. LETS GO APES LETS FUKING GOO!!! OOOGGAHH BOOGAHHH!!!
@robertm.8518
January 16, 2024 at 11:52 am
The year is 1929 and everyone is jumping off rectangle views
@truepersona6804
January 16, 2024 at 11:52 am
The good old days of cheap Fed money through QE are over. Before buying any stock make sure the Price to Earning PE is less than FOUR !?! The 99% of S&P500 are living on borrowed time and money with very high or no PE even after the mini crash !
Plus the Fed can't save the USA stock exchange because it's a BLACK HOLE created by fiat $ currency and needs to be corrected only by increasing interest rates to double digits.
@endcronycapitalism1616
January 16, 2024 at 11:52 am
The FED can't pull us out of this correction (which we have needed for decades to weed out the mal-investment in unsustainable (zombie) companies)! The FED can't kick the can down the road any longer! If they try it will cause runaway inflation… Don't fight the FED… Short everything and buy the companies that are able to survive!
@illegalsmirf
January 16, 2024 at 11:52 am
Loved watching these two circlejerk each other lol
@requiem5179
January 16, 2024 at 11:52 am
S&P is headed to 1800. I bet your 401K Im right. Enjoy that.
@KhoiNguyens
January 16, 2024 at 11:52 am
spy to 367
@ssuwandi3240
January 16, 2024 at 11:52 am
WE DID IT, JOE!!😅
@hRt42kuo7jTtmk14
January 16, 2024 at 11:52 am
The bl00dbath will last 18 months.
@julianschmahl8267
January 16, 2024 at 11:52 am
Go Brandon!!
@FinancialOptionsWithThumper
January 16, 2024 at 11:52 am
Spy down 20% and can continue for another 10-20%. Protect yourselves out there everyone.