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, Asian stocks rose and US equity-index futures advanced as strong earnings from technology companies Coreweave and Super Micro Computer lured investors back into the artificial intelligence trade.

Pakistan’s defense minister said the US and Iran are “close to some sort of arrangement” over the Strait of Hormuz, even after both sides appeared to toughen their positions in the long-deadlocked negotiations.

And the US CPI print is expected to show that energy-related pressures have eased after intensifying in the months immediately following the start of the Iran war.

Correction: Replaces incorrect image on graphic at 35:04

00:00:00 – Daybreak Europe
00:00:50 – Oil Gains Amid Hormuz Uncertainty
00:05:01 – Yen Inches Toward 160 Per Dollar, Raising Intervention Concerns
00:08:15 – US Inflation Expected to Slow in July
00:13:09 – Oil Extends Gain on Doubts Over Hormuz Deal
00:19:12 – Russia’s Crude Oil Shipments Plunge to the Lowest Since May
00:32:10 – Flanagan Wins Minnesota Democratic Senate Primary
00:36:33 – Tencent Faces Key AI Earnings Test
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Treasury Secretary Scott Bessent will meet with his Chinese counterpart, He Lifeng, ahead of a summit between President Donald Trump and Xi Jinping. Bloomberg’s Stephen Engle has the latest.
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Hong Kong Chief Executive John Lee set out plans to almost double the city’s spending on innovation in coming years and offered greater financial support for new parents, as his government seeks to build new growth engines and arrest a decline in births. The target was announced Wednesday as Lee unveiled Hong Kong’s first five-year development plan.
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Prime Minister Mark Carney addresses European lawmakers in Strasbourg, France, calling for a closer alliance between Canada and the European Union. “Yesterday President Von der Leyen spoke of moving beyond CETA [Canada-European Union Comprehensive Economic and Trade Agreement] to an alliance for the future, opening the door to Canada becoming the European Union’s first associate member,” Carney said during his speech. “Canada welcomes this ambition.”
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California Attorney General Rob Bonta discusses his opposition to Paramount Skydance’s $110 billion takeover of Warner Bros. Discovery. Speaking on “Bloomberg The Close,” Bonta also comments on the child safety settlement with Meta Platforms, the future of AI, prediction markets and the Supreme Court ruling on mail-in ballots.
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