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, Iran wants to bar US and Israeli ships from crossing the Strait of Hormuz, according to Iranian media reports on a proposed deal being discussed by Iran and Oman. The semi-official Fars news agency says Iran also wants hostile countries to pay to be allowed to sail through the strait. European natural gas jumped following those reports.

Bond yields rose as the uncertainty in the Middle East raised inflation expectations. Traders now await the US jobs report for clues on the path ahead for interest rates.

Plus, the CEO of Rheinmetall has hit out at the German government over its decision to scrap a €10 billion naval contract. Germany’s biggest defense company cut its sales forecast after losing the deal.

Today’s guest: Madeleine Ronner, DWS, Senior Global Equities Portfolio Manager

Chapters:
00:00:00 – Daybreak Europe 8/7/2026
00:03:38 – Houthis Hit Saudi Territory
00:07:55 – Asian Stocks To Slip On Iran Concerns
00:11:08 – July US Jobs Report Preview
00:15:08 – Apollo To Buy EasyJet
00:19:23 – North Korea’s Rapid GDP Growth
00:21:26 – Top Stories: Hong Kong Gold Stockpiles
00:25:23 – Front Page News
00:26:40 – Europe’s Best Earnings Since 2023
00:34:06 – Exclusive: Rheinmetall CEO Armin Papperger
00:41:56 – Top Corporate News: Allianz, Jane Street, Meta, OpenAI
00:44:07 – Chart Talk
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An Ozempic price war is coming. As patents on semaglutide begin to expire, generic versions could slash the cost of weight-loss drugs in markets like China, India, Brazil and Canada.
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US equity futures see relief after the Magnificent Seven stocks suffered their biggest one-day drop since the tariff-driven selloff in 2025. The US unveils new levies ranging from 10% to 12.5% on imports from 60 economies to reconstruct the Trump administration’s trade agenda that was struck down by the Supreme Court. Wei Li of BlackRock discusses the outlook for this earnings season.

Chapters:
00:00:00 – Bloomberg Brief Begins, Opening Headlines: Markets, Tariffs & Iran
00:00:42 – Global Market Check: Asia Market Wrap: Tech Selloff and Yen Weakness
00:02:19 – Global Market Check: Europe Opens Higher After ECB and SAP Earnings
00:03:22 – US Futures, Oil and Treasury Yield Surge
00:05:08 – First Look Movers: Intel, MaxLinear & Amkor
00:06:18 – Trump Rebuilds Tariff Wall with New Levies
00:09:13 – Trump Weighs Escalation Against Iran
00:12:02 – Trending on the Terminal: SpaceX, Volkswagen and Eurozone PMI Headlines
00:13:32 – Intel’s AI-Fueled Revenue Forecast Beats Expectations
00:17:53 – Wall Street Week: Austin’s Housing Affordability Model
00:21:34 – Market Headlines: Oil, Bonds and Premarket Stocks
00:25:28 – Wei Li, BlackRock Global Chief Investment Strategist, on Earnings, AI and Markets
00:32:50 – Trending on the Terminal: SpaceX, Tesla & UK Economy
00:34:10 – Tariff Strategy: Legal Challenges and Global Response
00:36:31 – Iran Escalation and U.S. Political Risks
00:38:24 – Bloomberg Intelligence on Intel’s AI Momentum
00:41:13 – UN Secretary-General Candidates Make Their Case
00:42:28 – What to Watch Ahead: Earnings, Data and Friday Trading
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Chris Connors, managing director at Johnson Associates, says Wall Street bankers could be having one of their best years ever. He says bonuses could rise by 10% to 15% or more for investment and commercial bankers. But he says some sectors are being left behind. He speaks on “Bloomberg Open Interest.”
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“Bloomberg: The China Show” is your definitive source for news and analysis on the world’s second-biggest economy. From politics and policy to tech and trends, Yvonne Man and David Ingles give global investors unique insight, delivering in-depth discussions with the newsmakers who matter.

Chapters:
00:00:00 – Bloomberg: The China Show opens
00:03:06 – Japan earnings offer a snapshot of Asia’s tech trade
00:06:03 – Trump reiterates control over Hormuz amid Iran tensions
00:09:38 – DeepSeek seeks $8B in renewed funding push
00:13:52 – Breaking: Alibaba to charge big users of next open-source AI model: Reuters
00:25:40 – Pacific Basin’s Martin Fruergaard on earnings
00:35:32 – Can Cambricon’s earnings get an AI boost?
00:39:24 – DBS CEO Tan Su Shan on integrating AI end-to-end
00:47:47 – China tech rallies while Japan tech tumbles
00:49:17 – Why DeepSeek’s AI price hike won’t dent China’s AI price war
00:59:40 – Why markets are disappointed despite SoftBank’s earnings beat
01:05:33 – Sequoia says it should have backed Anthropic sooner
01:09:17 – Yen remains in focus a week after intervention
01:14:30 – Crédit Agricole’s Xiaojia assesses the case for yuan revaluation
01:24:48 – Macau casinos face pressure as Beijing curbs capital outflows
01:29:02 – Kim Jong Un’s reported $22B fortune despite sanctions
——–
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