Tech stocks and US equity futures fell as another batch of disappointing earnings intensified the selloff in the sector, as investors increasingly question the payoff from massive artificial intelligence spending.

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: Markets Brace for Tech-Led Selloff
00:01:28 – The Agenda: Amazon and Intel Earnings Disappoint
00:04:17 – The Agenda: Fed, ECB and BOJ Deliver Hawkish Holds
00:04:50 – Breaking News: BP Earnings Beat Expectations
00:05:14 – BP CEO Meg O’Neill on Debt and Shareholder Returns, Refining Margins and Trading, Previews December Strategy Update
00:15:15 – BlackRock’s James Turner on Fixed Income Opportunities, Central Bank Rate Outlook, French Political Risk and Credit
00:21:37 – Need to Know: Binance Hit by Record $6.3 Billion Crypto Hack
00:25:48 – Credit Agricole CFO Clotilde L’Angevin on Earnings and French Risk, Loan Demand and Economic Uncertainty, Italy and Banco BPM
00:36:04 – Amazon and Intel Deepen Tech Concerns
00:39:25 – Breaking News: French Inflation Rises as Growth Slows
00:39:57 – MLIV: AI Trade Comes Under Pressure
00:43:20 – Stocks to Watch
00:46:21 – European Markets Open
00:49:10 – Tech and Basic Resources Lead Declines
00:51:40 – Hargreaves Lansdown’s Anna Macdonald on Investors Rotate Away From AI Trade, Investor Demand for Gilts
00:59:48 – European Market Movers
01:02:27 – Amazon and Intel Weigh on US Futures
01:04:25 – BP’s Strong Refining Quarter
01:07:28 – AstraZeneca and Sanofi Earnings in Focus
01:12:17 – European Markets Absorb US Tech Selloff
01:14:13 – Need to Know
01:15:22 – Capgemini CFO Nive Bhagat on Raises Forecast, Digital Sovereignty and AI
01:21:48 – Christine Lagarde’s ECB Legacy, Who Could Be the Next ECB President
01:26:58 – Binance Hack: What We Know
01:30:03 – North Korea Linked to Crypto Heist
01:31:23 – Intel Plunges as AI Trade Faces Turbulence
01:33:21 – ECB Rate Outlook and Market Risks
01:34:39 – Markets Wrap Up a Volatile Week
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On the early edition of Balance of Power, Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz discuss the final arguments ahead of Election Day Tuesday. On today’s show, former Republican Congressman Patrick McHenry, Democratic Congresswoman Suzan DelBene, Stonecourt Capital Partner Rick Davis, Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Siena Research Institute Director Don Levy.

Chapters:
00:00:00 Radio Balance of Power: Early Edition
00:02:09 Markets Rally as Oil Plunges
00:04:07 Iran Diplomacy & Trump’s Closing Message
00:08:56 Michigan Senate Race & Haley Stevens Endorsement
00:12:58 Michigan, Polling & Republican Turnout
00:19:01 Markets: Oil Plunges on Iran Diplomacy
00:20:05 Democrats’ Midterm Outlook
00:24:04 Key House Races to Watch
00:30:14 Political Panel: Democrats’ Election Prospects
00:32:12 Florida Emerges as a Battleground
00:36:04 Trump’s Election Eve Message
00:39:18 Markets, Apple Earnings & the AI Trade
00:42:34 Final Midterm Polls & Battleground States
00:43:10 Michigan Senate Race & the Latest Polling
00:45:41 Texas Senate Race Tightens
00:47:27 Kansas Emerges as a Senate Battleground
00:49:14 Maine, Alaska & the Fight for the Senate
——–
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US Energy Secretary Chris Wright talks about the sharp rise in diesel and gasoline prices and what the Trump administration is doing to bring them down. He also talks about converting dark fleet ships into legitimate oil tankers. He speaks to Bloomberg’s Annmarie Hordern at a Citadel Securities event in New York.
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0:00 Constitution pipeline update
2:15 Defense Production Act usage
4:22 Short-term energy strategies
7:10 Geopolitical and regulatory
9:44 Conflict zones and oil supply
13:42 Dark fleet tanker conversion
16:50 Saudi Arabia and Houthi threats
20:24 Russia, Ukraine, and energy
26:25 Data center community backlash
29:27 Renewables and energy diversity
33:02 Nuclear energy and AI expansion
36:39 Permitting reform importance
38:09 Long-term energy policy goals

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Binance has suffered the industry’s biggest-ever hack in a fresh blow to efforts to push digital assets into the mainstream. Binance, the world’s largest cryptocurrency exchange, said $6.3 billion worth of funds were affected, with $3 billion in crypto frozen. Bloomberg’s Emily Nicolle has the latest.
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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 Tech Rebound, Fed Fallout & Middle East Diplomacy
03:48 Strong Earnings Defy Macro Uncertainty — Dan Greenhaus, Solus Alternative Asset Management
20:30 Hamas Disarmament Could Isolate Iran — Lt. Gen. Robert Walsh (Ret.), Academy Securities
31:41 Apple’s Supply Crunch Hits Growth Outlook — Thomas Forte, Maxim Group
41:14 BOJ Backs the Yen Without a Rate Hike — Thierry Wizman, Macquarie
53:40 AI Winners Need Clear Communication — Victoria Fernandez, Crossmark Global Investments
1:04:45 The Cost of Restoring Fed Credibility — Daleep Singh, PGIM Fixed Income
1:17:49 AI Has Reached an Inflection Point — Lei Qiu, AllianceBernstein
1:25:19 Institutional Demand for Private Credit Is Accelerating — Michael Arougheti, Ares Management
1:37:51 Fed Dissenters Lay Out the Case for Rate Hikes — Michael McKee, Bloomberg
1:41:53 No Fed Chair Wants This Bond Market Reaction — Phil Camporeale, JPMorgan Wealth Management
1:57:00 Amazon’s AI Spending Is Paying Off — Shweta Khajuria, Wolfe Research
2:04:11 Why Warsh’s Policy Approach Is Flawed — William Dudley, Former New York Fed President
2:18:21 AI Selloff Created a Buying Opportunity — Daniel Niles, Niles Investment Management
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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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