Economists think the European Central Bank will raise interest rates next week but not beyond that. The majority of respondents in a Bloomberg survey expect the deposit rate to be raised by a quarter-point to 2.5% on Thursday and stay there through 2027. The survey results point toward a far more dovish outcome than markets are currently betting on. Bloomberg’s Jana Randow breaks down the situation.
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British Columbia Premier David Eby joins BNN Bloomberg to discuss Canada’s trade war with the US. He backs Prime Minister Mark Carney’s approach and says Canada can trade with whoever they want.
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Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day than “Bloomberg Surveillance.”

Chapters:
00:00 Bessent’s Bond Challenge, Venezuela Oil and Fed Hike Bets
04:56 Stock Pullbacks Are Buying Opportunities — Sébastien Page, T. Rowe Price
19:26 US-Iran Status Quo Is Working for Both Sides — Clayton Seigle, CSIS
30:36 War, Tariffs Are Driving US Yields Higher — Torsten Slok, Apollo
41:50 Long Bonds May Not Rally in the Next Downturn — Ashok Bhatia, Neuberger Berman
53:31 Rate Hikes Won’t End the Stock Bull Market — Evan Brown, UBS Asset Management
1:07:05 AI Has Become a Midterm Affordability Issue — Ariana Salvatore, Morgan Stanley
1:22:23 Venezuelan Oil Replenishing SPR a ‘Pure Fantasy’ — Stephen Schork, The Schork Group
1:31:04 AI Constraints Are Helping Prevent an Overbuild — Vivek Arya, BofA Securities
1:40:15 Treasuries May No Longer Be a Safe Haven — Kate Moore, Citi Wealth
1:49:31 ADP Says US Companies Added 38,000 Jobs in August — Michael McKee
1:53:39 Higher Costs Could Be the Next Trigger for Layoffs — Yelena Shulyatyeva, The Conference Board
2:07:37 Treasury Buybacks Won’t Be Enough to Lower Rates — Padhraic Garvey, ING
2:18:19 Fed’s Failure to Hike Could Hurt the Bond Market — Kelly Kowalski, MassMutual
——–
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Nvidia agreed to acquire artificial intelligence startup Hugging Face in a transaction valued at about $13 billion, adding a popular software platform to the chip giant’s AI empire. The price includes an equity-based retention program of as much as $1 billion for Hugging Face employees who join Nvidia, according to a statement Thursday. Bloomberg News AI reporter Rachel Metz discussed the acquisition and Bloomberg Tech Host Ed Ludlow discussed his interview with Hugging Face Co-Founder Thomas Wolf. Plus, Jason Tyler, President of Northern Trust Wealth Management talked about the private credit market. Finally, Randall Williams, Bloomberg News Senior Sports Reporter discussed the NBA’s suspension of Steve Ballmer.

Nvidia agreed to acquire artificial intelligence startup Hugging Face in a transaction valued at about $13 billion, adding a popular software platform to the chip giant’s AI empire. The price includes an equity-based retention program of as much as $1 billion for Hugging Face employees who join Nvidia, according to a statement Thursday. Bloomberg News AI reporter Rachel Metz discussed the acquisition and Bloomberg Tech Host Ed Ludlow discussed his interview with Hugging Face Co-Founder Thomas Wolf. Plus, Jason Tyler, President of Northern Trust Wealth Management talked about the private credit market. Finally, Randall Williams, Bloomberg News Senior Sports Reporter discussed the NBA’s suspension of Steve Ballmer.

Chapters
00:00:00 Bloomberg Businessweek Daily
00:01:21 Market Update: Stocks Rally, Bitcoin Tops $81K
00:03:34 Nvidia Acquires Hugging Face for $13 Billion
00:05:18 Why Nvidia Wants to Diversify the AI Ecosystem
00:06:04 AI Models, Cybersecurity & Safety Risks
00:09:54 Markets Rise as Bond Yields Fall
00:10:43 Blackstone Private Credit Fund Limits Redemptions
00:12:09 Private Markets & the Growing Alternatives Boom
00:13:05 Why Companies Are Staying Private Longer
00:14:59 Fed Policy, Rates & the Upcoming Jobs Report
00:17:37 How Investors Are Playing the AI Trade
00:20:40 Nvidia’s Hugging Face Deal Explained
00:23:54 Tesla’s Cybercab & the Robotaxi Challenge
00:25:58 Trump Sons’ Investment Fund & Microcap Stocks
00:27:23 Trump-Linked Fund Sells as Retail Investors Buy
00:29:53 Conflicts of Interest & the Trump Name
00:34:33 NBA Suspends Clippers Owner Over Salary Cap Rules
00:35:09 How the Clippers Circumvented the Salary Cap
00:38:14 Steve Ballmer’s Punishment & Possible Legal Fight
00:39:53 U.S. Open Ticket Prices & the Luxury Sports Boom
00:43:19 Stock Movers: Snowflake Surges on AI Growth
00:44:49 Tyson Foods Hit by U.S. Beef Shortage
00:45:49 Campbell’s Slides as Consumer Demand Weakens

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Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day.

Chapters:
00:00 Global Bond Rout, $92 Oil and AI Rate Risk
03:59 Earnings Make Rising Rates Tolerable for Stocks — Cameron Dawson, NewEdge Wealth
17:13 US Assumptions About the Iran War Have Proven Wrong — Lt. Gen. Karen Gibson (Ret.), Academy Securities
32:46 Venezuela Oil Deal May Not Be Sustainable — Doug Rediker, International Capital Strategies
40:52 ‘This Is an Inflation First Fed Right Now’ — Krishna Guha, Evercore ISI
52:40 Stocks Can Keep Grinding Higher Through Year-End — Jordan Jackson, JPMorgan Asset Management
1:06:36 The Last Thing the Economy Needs Is More Stimulus — Henrietta Treyz, Veda Partners
1:18:39 5% Is the ‘Magic Number’ for the 10-Year Yield — Krishna Memani, Lafayette College
1:29:10 Nvidia Is Backstopping the AI Ecosystem — Sara Araghi, Franklin Templeton
1:40:52 AI Trade Is Becoming More Rate Sensitive — Brent Schutte, Northwestern Mutual
1:54:47 Apple’s Next CEO Needs to Take Bigger Swings — Tom Forte, Maxim Group
2:05:36 Fed’s Hawkish Talk May Be More Rhetoric Than Action — Lindsey Piegza, Stifel
2:18:09 Small Caps Face an ‘Ominous’ Setup — Jonathan Krinsky, US Bancorp, BTIG
——–
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