A rout in the artificial intelligence trade faded, offering global stock investors some respite in the final session of a volatile week, with further gains in oil prices keeping sentiment cautious.

Bloomberg has learned OpenAI, which is seeking to raise around $30 billion in a fresh funding round, is now targeting a valuation of $1.25 trillion during the final stages of negotiations.

French authorities are bracing for a new round of protests Saturday, rolling out the military to back up police in a bid to prevent a repeat of last weekend’s riots and reassure markets unnerved by the violence.

Today’s guests: Geoff Yu, BNY Senior Market Strategist; James Murray, Financial Secretary to the UK Treasury; Martin Quencez, German Marshall Fund of the United States Senior Fellow & Special Adviser to the President; Oskar Lewnowski, Orion Resource Partners Founder & Group CEO

—
“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 – Tech trade under pressure
00:03:00 – Oil rises as Middle East tensions ratchet up
00:04:25 – Treasuries surge as worldwide worries spark rush to safety
00:07:39 – France braces for more protests
00:16:58 – BlackRock’s Schwarzman on AI buildout
00:19:40 – Interview: James Murray, Financial Secretary to UK Treasury
00:28:54 – US midterms lookahead
00:32:07 – Israel gears up for elections
00:39:34 – Earnings in focus: Kering slumps
00:43:26 – Critical minerals race intensifies
——–
More on Bloomberg Television and Markets

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Brent oil topped $100 a barrel for the first time since July, as attacks between the US and Iran and a recovery in Chinese oil buying propel the global crude benchmark higher.

The US military destroyed five Iranian tankers carrying crude in response to attempts to hit a US Navy warship with ballistic missiles overnight, Central Command said. It’s the latest escalation in the conflict, which began in February and has disrupted some flows through the vital Strait of Hormuz.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards and Tom Mackenzie.

Chapters:
00:00:00 – The Opening Trade
00:00:27 – Market Check
00:02:37 – US Strikes Iran Tankers
00:04:13 – Scott Bessent Dares Traders to Bet Against Yen
00:06:05 – IPEM Paris
00:09:51 – Apple to Launch Foldable iPhone
00:13:36 – IPEM Paris: Apollo’s Scott Kleinman
00:26:44 – US Attacks Iranian Oil Tankers
00:31:11 – ECB Rate Decision Due Tomorrow
00:42:25 – Commodities Bull Market Is Underpriced: MLIV
00:47:41 – Stocks to Watch: Inditex, Luxury Stocks, Energy Stocks
00:50:10 – Google to Invest £13B in Finland AI Infrastructure
01:02:51 – Amazon Kicks Off Bond Sale
01:04:43 – Brent Crude Hits $100/Barrel
01:05:53 – Inditex Stock Falls
01:17:22 – Isar Aerospace Blasted Off Rocket From Norway
01:21:49 – Isar Aerospace CEO Daniel Metzler
01:25:34 – IPEM Paris: Carlyle’s Steve Wise
01:31:53 – Apple to Unveil Foldable iPhone
——–
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Apple’s first foldable iPhone is finally here, but is it worth more than $2,000? In this episode of Power On, Bloomberg’s Mark Gurman is joined by Gear Live’s Andru Edwards, who has spent the past week testing the iPhone Duo. They break down its design, software, cameras, battery life and biggest shortcomings, while revealing new details about what Apple is planning for future models. They also debate Apple’s troubled pre-order rollout, which has left many customers waiting months for their devices.

Have a question for Mark? Email us at poweron@bloomberg.net or join the Power On Discord
Subscribe to the Power On Newsletter at https://www.bloomberg.com/poweron

Chapters:
00:00:00 – Mark Welcomes Andru to the Show
00:01:29 – Listener Q & A: Macbook’s Future and Missing the Mini
00:06:30 – Andru’s Duo Review
00:09:14 – Are Apps Optimized for the Rightside Nav?
00:11:42 – TouchID Frustration
00:21:45 – Camera Impressions
00:25:45 – Battery Performance
00:31:47 – Apple’s Pre-Order Blunder
00:39:50 – Mark & Andru’s Duo Orders
00:40:43 – Apple Trivia!
——–
More on Bloomberg Television and Markets

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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from Berlin, 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, global stocks fell after a mixed start to US tech earnings failed to calm nerves around the AI trade. Meta doubled down on its investment plans, boosting its capital spending forecast for the year. Meanwhile Tesla is pulling back, as it pivots from EVs to artificial intelligence and robotics.

Oil advanced after deadly Houthi attacks in Saudi Arabia. Two people were killed in a drone strike on an Aramco oil field and one person died in an attack on an airport. The US has ordered non-emergency personnel and their families to leave the country.

Today’s guests: Francisco Blanch, Bank of America, Head of Global Commodities & Derivatives Research; Christian Keller, Barclays, Head of Economic Research.

Chapters:
00:00:00 – Daybreak Europe
00:00:29 – Meta Goes Big
00:03:32 – French Bond Yields Hit Highest Since 2002
00:06:43 – AI Spending in Focus Amid Mixed Megacap Earnings
00:10:23 – Cloud Growth Beats Forecast
00:13:49 – Oil Rises as Deadly Saudi Attacks Fan Middle East Supply Fears
00:17:52 – Francisco Blanch, Bank of America, Head of Global Commodities & Derivatives Research
00:23:02 – Italy Approves Aid for Cheeses-Off Truckers
00:28:08 – Christian Keller, Barclays, Head of Economic Research
00:35:14 – Putin Signals New Ukraine Peace Talks
00:38:54 – UK Banks Gird for Pushing Taxes as Profit Set to Push Higher
00:41:39 – Huang on AI Adoption in Europe
——–
More on Bloomberg Television and Markets

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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 AI Slowdown, Oil Shock and Fed Rate Hike
03:44 AI Froth Adds to Earnings Risks — Lori Calvasina, RBC
18:38 Iran Is Exploiting the Houthi ‘Wildcard’ — Col. Wayne Sanders (Ret.)
32:09 US Lead Over China Is Too Small to Slow AI — Greg Allen, Decision Tree Research
43:42 AI CapEx Slowdown Could Push US Into Recession — Jonathan Pingle, UBS Investment Bank
53:12 It’s Time to Tread Water in Stocks — Chris Harvey, CIBC
1:04:56 AI Companies Can Slow Down Without Washington — Jennifer Huddleston, Cato Institute
1:19:50 Lower-Income Wage Growth Is Outpacing the Wealthy — David Tinsley, Bank of America Institute
1:28:19 Bonds Are Making It Clear the Fed Needs to Hike — Matt Hornbach, Morgan Stanley
1:40:44 AI Is an Economic Story, Not an Investment Story — Richard Bernstein, Janus Henderson
1:50:17 Hormuz Oil Flows Will Rise Regardless of Iran — Chris Wright, US Energy Secretary
2:08:38 Cheap Chinese AI Threatens the Growth Story — Sarah Kunst, Cleo Capital
2:19:22 5.5% Treasury Yields Could Challenge the Bull Market — David Stubbs, AlphaCore Wealth Advisory
——–
Watch it live every week day from 6-9 ET on Bloomberg Television, YouTube, Roku, Apple TV, Samsung TV, Android TV, Rakuten TV.

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