Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

On today’s show, Bloomberg understands that Apple is in negotiations to buy chips from two Chinese semiconductor firms which are currently on a Pentagon blacklist. Sources say CEO Tim Cook has appealed to Trump administration officials to help soften the political fallout from any possible deal with the Chinese chipmakers.

A selloff in chip stocks spread to South Korea, after a Bloomberg scoop on Meta’s cloud business plans raised concerns over the speed of the AI buildout.

And commercial shipping through the Strait of Hormuz has surged over the past few weeks, with American military support helping boost oil flows to more than 10 million barrels per day, a US official said.

Today’s guests: Hetal Mehta, St James’s Place, Chief Economist & Marc Chowrimootoo, Hayfin, Portfolio Manager & Co-Head of Direct Lending.

Chapters:
00:00:00 – Daybreak Europe
00:00:34 – US Touts Hormuz Flows
00:04:57 – Apple Seeks to Buy Chinese-Made Memory Chips
00:11:42 – Investors Price in at Least One Fed Hike This Year
00:14:57 – ECB Views Splinter on Next Rate Move
00:18:23 – Trump Hails Qatar Meetings in Iran
00:20:59 – Oil Majors Lose Luster, Investors Turn Selective
00:25:34 – Oil Extends Drop on Hormuz Flows
00:28:07 – Central Banks Respond to Inflation Outlook
00:30:09 – Hetal Mehta, St James’ Place Chief Economist
00:34:32 – Hayfin Defies Private Angst With €15B Fundraise
00:37:13 – Marc Chowrimootoo, Hayfin, Portfolio Manager & Co-Head of Direct Lending
00:40:39 – KNDS Halts IPO Over Market Conditions
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“It’s not cost cutting; it’s replacing in some cases lower-value human capital.”

Standard Chartered CEO Bill Winters delivered a blunt message on the future of the bank’s workforce. Aisha S. Gani explains the growing trend among finance leaders acknowledging the realities of AI technology replacing jobs.
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“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 Tokyo and Sydney with Shery Ahn and Haidi Stroud-Watts, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets.

Chapters:
00:00:01 – Bloomberg: The Asia Trade begins
00:02:16 – US jobs growth slows sharply in June
00:16:23 – Takaichi, Modi agree to deepen economic ties
00:27:01 – TD Securities’ Molly Brooks on US economic outlook
00:33:19 – NEC Director Kevin Hassett on June jobs report
00:36:38 – TECHnalysis Research’s Bob O’Donnell on US tech outlook
00:44:07 – Microsoft Commercial Business CEO on new AI unit
00:47:16 – Markets open in Japan, South Korea and Australia
00:51:09 – Goldman Sachs’ Timothy Moe on investment strategy
00:58:48 – Goldman Sachs’ Timothy Moe on Asia tech outlook
01:12:06 – Weak yen drives Japan bankruptcies to highest level since 2022
01:16:33 – 24-hour Korean won trading begins July 6
01:22:36 – Chip industry urges US to avoid moves that distort memory market
01:25:17 – HK carves out role as China’s chip gateway
01:27:59 – China tech’s deepening valuation slump
——–
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Just months ago, investors were selling the dollar against the euro to Bitcoin and gold. Now the dollar is rallying. So what’s changed? Ruth Carson explains.
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Get a jump start on the US trading day with Dani Burger on “Bloomberg Open Interest.” US hiring slows sharply in June as Wall Street weighs what comes next. The Nasdaq fights back as Meta reshapes the global AI race, and OpenAI is reportedly considering giving the U.S. government a 5% stake. White House NEC Director Kevin Hassett reacts live to the jobs report, BlackRock’s Rick Rieder breaks down the market impact, Revelio Labs explains how AI is creating jobs despite slower hiring, and Bridgepoint’s $1.4 billion real estate bet points to a potential decade-long investment boom.

Chapters:
00:00:00 – Open Interest
00:02:09 – Stocks Rise and Bond Yields Fall After Jobs Report
00:05:31 – Korean Stocks Tumble as AI Jitters Hit Chipmakers
00:08:12 – Microsoft Creates 6,000-Worker Unit to Help Clients with AI
00:15:19 – Rick Rieder BlackRock | Jobs Data, Inflation & Fed Policy
00:26:36 – Kevin Hassett White House National Economic Council Director | White House View on Jobs, Growth & Fed Cuts
00:49:40 – Julia Coronado MacroPolicy | Labor Market, Inflation & Fed Strategy
01:01:22 – Al Rabil Kayne Anderson | Bridgepoint Acquires Kayne Anderson Real Estate
01:07:57 – Jan Goetz IQM Quantum Computers | Expands Global Quantum Footprint
01:17:04 – Lisa Simon Revelio Labs | US Adds 57K Jobs in June, Below Estimates
01:24:46 – Strait of Hormuz Fees, Iran Risk & Global Trade
01:26:44 – USMCA Review, Supply Chains & North American Trade
——–
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