Get a jump start on the US trading day with Dani Burger on “Bloomberg Open Interest.” Tech stocks bounce back, but Oaktree’s Howard Marks says AI’s bubble of infallibility has burst. Anthropic posts nearly $17 billion in quarterly revenue ahead of a potential blockbuster IPO.  Plus, Kim Wallace on the midterms, Washington risk and the next battle over AI regulation.

Chapters:
00:00:00 – Open Interest
00:02:08 – OpenAI Fundraising Struggles, AI Capital Fatigue & Anthropic IPO
00:04:25 – Apple Earnings, AI Spending Concerns & the $2,000 iPhone Debate
00:07:45 – Midterm Elections, Trump Strategy & Key Senate Battlegrounds
00:10:59 – Morning Movers | Marvell-Lumentum Deal, S&P Changes & Teva Setback
00:13:15 – SpaceX-EchoStar Talks, Wireless Expansion & Telecom Disruption
00:16:01 – Stuart Kaiser Citi | AI Trade Crowding, Election Risks & Market Rotation
00:22:17 – High Interest | Anthropic IPO Amendment, Revenue Growth & AI Infrastructure Spending
00:22:23 – Anthropic’s $17 Billion Revenue Run Rate, Compute Costs & Public Benefit Structure
00:32:50 – Top Calls | Coinbase Downgrade, Clorox Upgrade & Home Improvement Weakness
00:34:27 – Anthropic’s Spending, Google Partnership & AI Economics
00:44:30 – ISM Manufacturing, Inflation Pressures & Fed Expectations
00:46:04 – Katrina Dudley Franklin Templeton | Market Broadening, Healthcare Opportunities & AI Winners
00:56:36 – Amy Wu Silverman RBC Capital | Midterm Volatility, AI Rotation & Options Market Signals
01:05:35 – Congressional Control, Trump’s Agenda & Senate Races
01:07:30 – Kim Wallace 22V Research | Midterm Risks, Economic Anxiety & Washington Policy Outlook
01:17:22 – Anthropic’s Spending Surge, AI Growth Slowdown & IPO Demand
01:21:49 – Suki Cooper Standard Chartered | Gold’s Comeback, Inflation Hedges & Election-Year Volatility
——–
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.

Chapters:
00:00:00 – Bloomberg Surveillance Begins
00:03:57 – T. Rowe Price CIO Sébastien Page on Inflation Risks
00:19:09 – Peterson Institute Senior Fellow Mary Lovely on Trump-Xi Trade Agreement
00:33:11 – Daniel Ives of Wedbush on Cerebras Becoming This Year’s Biggest IPO
00:43:43 – TD Securities Head of FX Strategy Jayati Bharadwaj on Future of US Dollar
00:52:33 – HSBC Securities Global Equity Strategist Alastair Pinder on Market Outlook
01:06:32 – Henrietta Treyz of Veda Partners on China and Foreign Policy
01:19:12 – BofA Securities Senior Retail Analyst Lorraine Hutchinson on Winners & Losers in Retail
01:29:10 – Société Générale Americas Head of Research Rajappa on Future of Fed
01:41:02 – UBS Global Wealth Mgmt. CIO Ulrike Hoffmann-Burchardi on Bond Yield Rise
01:54:04 – Baird Managing Director of Technology Ted Mortonson on Risk of Tech Supply Shortages
02:08:00 – The Conference Board Senior Economist Erin McLaughlin on Health of US Consumer
02:18:18 – Citi Managing Director Scott Chronert on AI Influence
——–
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Wall Street got a reality check as a bruising selloff in technology shares fueled concern the artificial-intelligence frenzy that has powered the equity bull market might be overblown. Disappointing tech results spurred the worst drop for stocks since June, with the Nasdaq 100 falling 3.5% and briefly crossing the threshold of a technical correction. Bloomberg News US Semiconductor Reporter Ian King, Bloomberg News Technology Reporter Matt Day and Bloomberg Intelligence Senior Technology Analyst Anurag Rana join to recap Intel and Amazon earnings. Plus, Jeff Sprecher, Intercontinental Exchange CEO joins to discuss the company’s deal with Hyperliquid to bring perpetual futures products into US markets. Then, Bloomberg News Senior Equities Editor Eric Weiner helps dissect today’s major selloff. Finally, Brooks Running CEO Dan Sheridan joins ahead of the New York City Marathon to discuss the shoe company’s market share and customer demand.

Chapters:
00:00:00 Bloomberg Businessweek Daily
00:02:05 Markets: Intel, Chips & AI Trade
00:04:25 Intel’s Historic Stock Rout
00:07:23 AI Spending & Chip Stock Valuations
00:11:20 Amazon, AI Spending & $80 Billion Financing
00:14:01 AWS Growth & the AI Infrastructure Boom
00:15:01 Amazon E-Commerce & Consumer Spending
00:17:14 Amazon’s AI Chips & Nvidia Competition
00:19:02 Tech Selloff Intensifies
00:21:11 ICE CEO on Markets & the AI Trade
00:23:23 Perpetual Futures & Crypto Trading
00:27:29 Prediction Markets & Retail Investors
00:30:19 The Push Toward 24/7 Trading
00:34:26 Is the AI Trade Unwinding?
00:36:13 Investors Rotate Into Defensive Stocks
00:39:40 New York City Marathon & the Running Boom
00:40:26 Brooks Running’s Growth & Consumer Demand
00:42:49 Running Clubs & Global Growth
00:44:46 Markets: Nasdaq Nears a Correction
00:47:17 Investors Demand Returns From AI Spending
00:49:06 Stock Movers: Intel, Amazon & Reddit
——–
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The first polls are closing in the US midterm elections which have been dominated by voter frustration over the high cost of living. Here’s what voters around the country said drove them to turn out.
——–
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BMO Capital Markets Senior Economist and Managing Director Jennifer Lee tells Bloomberg This Weekend that heavy AI investment has helped drive interest rates and inflation pressures higher, while a cooling in the sector could make the Federal Reserve’s job easier. Speaking with hosts David Gura and Lisa Mateo, Lee says the US economy remains robust but points to softer consumer spending and wage growth as investors await fresh labor data and another round of technology earnings.
——–
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