Charles Schwab CEO Rick Wurster joins “Bloomberg Surveillance” to address the recent AI disruption among wealth management stocks.
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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 UBS US Rates Strategy Head Phoebe White, Cboe Global Markets VP, Head of Derivatives Market Intelligence Mandy Xu, Musician & FYI.AI Founder & CEO will.i.am, BNY Investments Chief Economist Vincent Reinhart, Charles Schwab Chief Investment Strategist Liz Ann Sonders, California Attorney General Rob Bonta, Macerich President & CEO Jack Hsieh, LuxExperience CEO Michael Kliger, & Jeni’s Splendid Ice Creams Founder Jeni Britton.

Chapters:
00:00:00 Bloomberg The Close
00:02:38 Fed Policy, Inflation & the 10-Year Yield
00:06:20 Global Central Banks, Oil & Bond Market Risks
00:09:01 Market Volatility, Oil & Investor Hedging
00:12:01 Earnings Volatility, Tech & the AI Trade
00:16:20 Top Calls
00:17:45 will.i.am on Personal AI Agents & the Future of Work
00:21:06 Scaling AI Agents Across Colleges & Universities
00:23:33 Vincent Reinhart on the Bank of Japan & Global Rates
00:27:04 Central Bank Hikes, Treasury Yields & Kevin Warsh
00:29:27 Fed Tightening, Inflation & Risks to the Economy
00:32:12 Generac’s Amazon Deal & AI Data Center Power
00:36:31 Charles Schwab on Stocks, Bonds & a New Inflation Era
00:39:31 Rethinking the 60/40 Portfolio & Diversification
00:41:29 AI Productivity, Jobs & Inflation
00:43:12 Closing Bell
00:46:19 Market Movers: Intel, SpaceX & Generac
00:48:27 Paramount, Lennar & the Day’s Biggest Losers
00:52:54 Paramount-Warner Bros. Merger Faces Antitrust Fight
00:54:20 California AG Rob Bonta on Paramount & Warner Bros.
00:57:55 Jobs, Competition & the Paramount Merger
01:00:53 State vs. Federal Power in Antitrust Enforcement
01:03:43 Rob Bonta on AI Regulation & Social Media
01:06:08 Ticketmaster, Prediction Markets & State Regulation
01:08:50 Mail-In Voting & Election Law in California
01:10:44 Shopping Malls Rebound as Consumers Keep Spending
01:13:12 Dick’s House of Sport & the New Mall Experience
01:15:59 Higher Rates, Retail Real Estate & Holiday Shopping
01:17:55 LuxExperience CEO on the Resilient Luxury Consumer
01:20:31 Net-a-Porter & the Future of Luxury E-Commerce
01:23:45 U.S. Luxury Spending, Tariffs & Global Growth
01:26:25 Jeni Britton on Fiber Bars & Her Next Food Venture
01:29:06 Starbucks, Flora Bars & Retail Expansion
01:30:31 What to Watch
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Warren Buffett has stepped down as Berkshire Hathaway chairman after more than six decades at the company, becoming chairman emeritus as his son Howard takes over the board and Greg Abel remains CEO. Bloomberg News Insurance Reporter Alex Rajbhandari explains that Howard Buffett, a Berkshire director since 1993, is tasked with safeguarding the company’s culture and values as the conglomerate completes its long-planned leadership transition.
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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, markets reacted positively as President Trump announced exemptions on phones, computers and consumer electronics from his headline tariffs on China. But he warned the reprieve is only temporary. China’s exports surged ahead of US tariffs, with near-record shipments flowing to Southeast Asia in March. Europe’s luxury sector is set to face questions on the potential fallout from US tariffs with LVMH and Moncler reporting earnings this week.

Today’s guest: Charlotte Mueller, European Chief Economist at Swiss Re.

Chapters:
00:00:00 – Daybreak Europe
00:02:19 – Goldman Cuts Targets on China Stocks for Second Time This Month
00:03:21 – Asia Stocks Pare Gains
00:04:43 – Trump Warns Tariffs Coming for Electronics After Reprieve
00:08:51 – Xi Seeks to Win Over Southeast Asia as Trump Pauses Some Tariffs
00:10:55 – Dollar Drops to Fresh Lows for the Year as Tariff Saga Rolls On
00:17:42 – Euro Zone’s Weaker Inflation Outlook Bolsters ECB Case to Cut
00:20:17 – Ukraine Says Russian Missile Strike Kills Dozens in Sumy
00:23:31 – New Green Steel Projects Plummet Since 2023
00:27:40 – Dimon Sees ‘Stormy Seas’ Ahead
00:32:15 – European Luxury Brands to Report Earnings
00:37:29 – Traders Brace for New Week of Tariff Turmoil
00:38:51 – Charlotte Mueller, European Chief Economist at Swiss Re
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Africa’s richest man, Aliko Dangote, is set for a $23 billion leap in his net worth with the IPO of his refinery business.

Jennifer Zabasajja explains why the continent’s biggest listing promises to supercharge the Nigerian’s wealth.
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