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Aramco Headquarters Attacked, ASML Struggles to Keep Up with Demand
Iran-backed Houthis launched missile and drone attacks across Saudi Arabia, targeting several cities, as oil giant Saudi Aramco’s headquarters in the east of the kingdom was hit.
ASML shares rose after the Dutch company said soaring artificial intelligence spending means it’s searching for ways to produce more chip-making machines over the next two years.
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, Guy Johnson and Tom Mackenzie.
Chapters:
00:00:00 – The Opening Trade Begins
00:00:06 – Opening Headlines: CPI, Oil and ASML
00:01:21 – Today’s Agenda: US CPI and the Global Inflation Outlook, ECB, BOE and Second-Round Inflation Effects, Oil Prices Surge and Crack Spreads Widen
00:05:26 – Today’s Agenda: Aramco HQ Hit as Middle East Conflict Escalates, ASML Raises Guidance Amid Strong AI Demand
00:07:46 – Europe’s AI Ambitions and Dublin AI Summit
00:10:53 – What to Watch: Lagarde, CPI and Bank Earnings
00:14:42 – Federated Hermes’ Deborah Cunningham on Treasury Repricing, Repo Clearing and the Treasury Basis Trade, Treasury Supply and Competition for Capital
00:21:53 – Need to Know: Pope Leo, OpenAI and China Trade
00:24:10 – European Markets Ahead of US CPI
00:27:34 – ASML’s Critical Role in the AI Chip Supply Chain
00:30:33 – Rothschild & Co Redburn’s Timm Schulze-Melander on AI Investment: Boom, Speculation and Visibility,,, Higher Yields and AI Financing Risks
00:38:18 – Jensen Huang Backs Europe’s AI Opportunity
00:39:46 – MLIV: AI Trade Faces Growing Market Scrutiny
00:43:03 – Stocks to Watch: ASML, Miners and Ørsted
00:46:15 – European Markets Open
00:48:52 – ASML Jumps at the Open
00:50:44 – ASML Demand, Capacity and the AI Buildout, European Stocks Rise as ASML Climbs
00:58:28 – Commerzbank CEO Bettina Orlopp on UniCredit Takeover, Commerzbank’s Asia Growth Strategy, German Loan Demand and Economic Outlook
01:08:05 – Stocks to Watch: ASML, Glencore and SEB
01:12:15 – European Markets: Tech and Luxury Lead
01:13:59 – Need to Know
01:15:21 – Anthropic’s Guillaume Princen on AI Adoption, Startup Demand, Frontier Models and Falling Costs, Open Source AI, Safety and European Sovereignty
01:25:00 – Breaking News: Germany Pushes for More EU Curbs on Chinese Imports
01:26:27 – Fidelity’s Salman Ahmed on US 10-Year Yield Could Reach 6%, Inflation, AI & the Limits of Monetary Policy
01:32:17 – Wall Street Bank Earnings: Equities Beat Fixed Income, Morgan Stanley and Bank of America Preview
01:35:35 – What to Watch Ahead
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“It is an incredibly technically-driven market,” says Max Kettner, chief multi-asset strategist at HSBC. He doesn’t see any kind of fundamental catalyst, outside of earnings, calming some nerves around concerns about artificial intelligence. He speaks on “Bloomberg Surveillance.”
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“Bloomberg Crypto” covers the people, transactions, and technology shaping the world of decentralized finance. Today’s guests: Blockstream Co-Founder & CEO Adam Back, Chainalysis Head of Research Eric Jarine, Jito Labs COO & Chief Legal Officer Rebecca Rettig, and Franklin Templeton Head of Innovation Sandy Kaul.
YouTube Chapters:
00:00 Crypto Markets opens
02:50 Adam Back, Blockstream CEO, on Bitcoin and Liquid Network
05:04 Blockstream’s Liquid Network Hack
06:00 AI and Crypto Security Risks
07:46 Bitcoin’s Quantum Computing Risk
09:49 Bitcoin’s Market Maturity
11:00 Adam Back on Satoshi Nakamoto Rumors
13:27 Eric Jardine, Chainalysis, on AI Agent Crypto Payments
14:04 Rise of AI Micropayments
15:34 U.S. Leads Agentic Commerce
16:58 AI Payments vs. Traditional Payment Rails
18:51 Crypto Policy After the Clarity Act
20:10 SEC, CFTC and Future Crypto Regulation
20:50 Agentic Payments and Stablecoins
22:54 Political Exchange: Crypto and Washington
23:57 Rebecca Rettig, Jito Labs, on Crypto Regulation
25:18 SEC and CFTC Rules After the Midterms
26:44 Clarity Act and the Ethics Debate
28:35 Why the Clarity Act Failed
30:15 Token Moment: Sandy Kaul, Franklin Templeton
30:43 Franklin Templeton’s Tokenization Strategy
31:40 Tokenized Funds and Agentic Payments
32:46 Tokenization and Traditional Finance
33:51 Competition on Blockchain Rails
35:15 Who Will Lead Tokenized Finance?
36:39 JPMorgan Expands JPM Coin to Ethereum
37:31 JPM Coin vs. Stablecoins
38:36 JPMorgan’s Blockchain Position
39:18 Stablecoins Disrupt Money Transfers
40:39 Immigration and the Remittance Industry
——–
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The Close brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today’s guests are Charles Schwab Chief Investment Strategist Liz Ann Sonders, IDC Senior Director, Data & Analytics Nabila Popal, Susquehanna Senior Equity Research Analyst Mehdi Hosseini, KPMG US Chair & CEO Tim Walsh, Envestnet CIO Dana D’Auria, Hirtle & Co Founder & Executive Chair Jon Hirtle, Gerber Kawasaki Wealth & Investment Management President & CEO Ross Gerber, Blue Sky Productions President John McElroy, & Porsche CEO Michael Leiters.
Chapters:
00:00:00 Bloomberg The Close
00:02:50 Liz Ann Sonders on AI, Bonds & Market Rotation
00:08:00 Fed Rate Hikes, Diversification & Investor Positioning
00:11:03 Smartphone Slump, Memory Chip Shortage & Rising Prices
00:16:00 KFC Drops Pepsi for Coke & Top Wall Street Calls
00:17:00 Top Calls
00:18:09 TSMC Earnings, AI Demand & the Chip Buildout
00:23:30 KPMG CEO on AI Investment & Corporate ROI
00:28:42 AI Jobs, Geopolitics & the CEO of the Future
00:32:14 Rocket Lab Delays Its Neutron Rocket
00:36:50 Markets Rebound as Treasury Yields Fall
00:41:06 Fed Chair Kevin Warsh, Inflation & Rate Policy
00:45:17 Closing Bell
00:50:37 Market Movers, J.B. Hunt Earnings & Consumer Pressure
00:54:03 Market Recap: Defensive Stocks & Falling Yields
00:57:30 John Hirtle on AI Investing & Portfolio Strategy
01:02:47 Private Markets, Venture Capital & Diversification
01:04:21 J.B. Hunt Earnings, Trucking & Driver Shortages
01:08:35 Tesla Roadster, SpaceX & Elon Musk’s Strategy
01:14:17 Tesla’s Future, Robotaxis & the Auto Industry
01:18:20 Porsche CEO Unveils New Supercar Above the 911
01:23:32 Porsche Pricing, China & Luxury Car Strategy
01:28:24 Porsche’s Transformation & Future Product Lineup
01:30:39 What to Watch: Tesla Roadster, Fed Chair & Economic Data
——–
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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from Brussels, 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, AI jitters returned after the Korean data center firm Elice flopped on its stock market debut. Shares fell as much as 35% after its IPO, which raised $151 million.
Bloomberg has learnt that the AI cloud computing firm Nscale is in talks to sell computing power to Anthropic, in a deal that could be worth about $45 billion.
The German Chancellor Friedrich Merz has warned against complacency over the dangers posed by Russia, saying that President Putin is seeking to undermine democracy in Europe.
And tougher security measures, including an 11pm curfew in some parts of Paris and other cities, appear to have quelled violent protests in France for now. But unions have called for a strike next month, with more demonstrations planned for this Saturday.
Today’s guest: Ana Boata, Allianz Trade, Head of Economic Research
Chapters:
00:00:00 – Daybreak Europe
00:01:39 – Elice’s 33% Debut Plunge Rekindles Doubts Over AI Spending Boom
00:03:19 – Japan 20-Year Bond Sale Sees Record Demand
00:07:21 – Nscale, Anthropic in Talks for $45 Billion Cloud Computing Deal
00:12:49 – Merz Warns Europe That It’s Underestimating the Russian Threat
00:18:31 – French Unrest Tapers Off After Security Measures Imposed
00:27:46 – Ana Boata, Allianz Trade, Head of Economic Research
00:34:39 – Ukraine Suspects US Blocking Intelligence on Russian Attacks
——–
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Fed Chairman Kevin Warsh described AI as potentially the most consequential change to the US and global economy in his lifetime, calling it a positive supply shock over the medium term. He spoke at an IMF event moderated by IMF Chief Kristalina Georgieva in Bangkok, Thailand.
——–
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